Q1 2024 EPS Estimates for Enerplus Co. (NYSE:ERF) Cut by Capital One Financial

Enerplus Co. (NYSE:ERF) (TSE:ERF) – Analysts at Capital One Financial reduced their Q1 2024 earnings per share estimates for shares of Enerplus in a research report issued to clients and investors on Friday, April 19th. Capital One Financial analyst B. Velie now expects that the oil and natural gas company will earn $0.35 per share for the quarter, down from their prior estimate of $0.37. The consensus estimate for Enerplus’ current full-year earnings is $2.06 per share.

Several other research analysts have also issued reports on the company. CIBC cut their price target on Enerplus from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. StockNews.com started coverage on shares of Enerplus in a research report on Monday. They issued a “hold” rating for the company. National Bankshares lowered their price objective on shares of Enerplus from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Finally, TD Securities reaffirmed a “tender” rating and issued a $18.85 price objective (down from $21.00) on shares of Enerplus in a research note on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Enerplus currently has a consensus rating of “Moderate Buy” and an average target price of $21.69.

Enerplus Trading Up 1.1 %

ERF opened at $20.15 on Monday. The company has a market cap of $4.12 billion, a P/E ratio of 9.60 and a beta of 1.99. The company has a fifty day moving average price of $18.61 and a two-hundred day moving average price of $16.69. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09. Enerplus has a 1-year low of $13.46 and a 1-year high of $20.97.

Enerplus (NYSE:ERF) (TSE:ERF) last released its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $437.10 million for the quarter. Enerplus had a net margin of 27.67% and a return on equity of 40.36%.

Enerplus Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Enerplus’s previous quarterly dividend of $0.06. This represents a $0.52 annualized dividend and a yield of 2.58%. Enerplus’s dividend payout ratio (DPR) is 12.38%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ERF. Wellington Management Group LLP increased its stake in Enerplus by 15.1% in the 4th quarter. Wellington Management Group LLP now owns 8,475,459 shares of the oil and natural gas company’s stock valued at $130,272,000 after buying an additional 1,109,040 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of Enerplus during the third quarter valued at approximately $88,150,000. Westwood Holdings Group Inc. increased its position in shares of Enerplus by 29.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,182,271 shares of the oil and natural gas company’s stock valued at $64,156,000 after acquiring an additional 940,419 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Enerplus by 94.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,255,178 shares of the oil and natural gas company’s stock worth $34,594,000 after acquiring an additional 1,097,412 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Enerplus by 61.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,881,849 shares of the oil and natural gas company’s stock worth $28,868,000 after purchasing an additional 718,606 shares during the last quarter. 58.42% of the stock is owned by institutional investors.

About Enerplus

Enerplus Corporation, together with its subsidiaries, explores and develops crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. The company was founded in 1986 and is headquartered in Calgary, Canada.