The short interest for (TSE:ERF), increased significantly in April. On April 30, there were 3,990,000 shorted shares. This is an increase of 5,3% over the total of 3,790,000 on April 15. Around 1.9% of shares are short-sold. The days-to-cover is currently 3.3 based on an average daily volume of 1,200,000 shares.
Enerplus Price Performance
During Monday's midday trading, the stock rose $0.19 to $14.24. Stock of the company traded 768,319 compared to an average of 1,146,874 shares. The 50-day simple moving mean of the business is $14.64, and its 200-day simple moving means are $16.33. The debt-to equity ratio for the company is 0.11; its quick ratio is 0.76, and its current ratio 0.76. The market cap is $3.07 billion. It has a P/E of 3.30, and a beta value of 2.18. The last time the TSE:ERF posted its quarterly results was on Thursday, 23rd February. The oil and gas company posted $0.78 per share in earnings for the third quarter, which was on par with the consensus estimate. Revenue for the quarter was $548.70 millions. Enerplus' net margin was 44.08%, and its return on equity was 72.62%. Analysts expect Enerplus to post an average of 2.36 earnings per share for the current fiscal year.
Enerplus Cuts Dividend
A quarterly dividend was also declared by the firm, and will be paid out on June 15th. The $0.11 dividend will be paid to shareholders who were in the books on May 31st. This is a $0.44 dividend annualized and a 3.09% dividend yield. This dividend will be paid on Tuesday, 30th May. Enerplus has a dividend payout ratio of 5.09%.
Enerplus: Hedge Funds weigh in
Recently, institutional investors bought and sold shares in the company. Raymond James Financial Services Advisors Inc. increased its stake in Enerplus shares by 3.8% during the third quarter. Raymond James Financial Services Advisors Inc. owns 28,395 of the oil company's shares valued at $420,000 after purchasing an additional 1,034 during the period. Signaturefd LLC increased its holdings of Enerplus shares by 4.5% during the first quarter. Signaturefd LLC owns 25,070 of the oil company's shares valued at $361,000. This is after buying an additional 1,087 in the previous quarter. Toronto Dominion Bank increased its shares of Enerplus in the first quarter by 0.3%. Toronto Dominion Bank owns 321,492 of the oil company's shares valued at $4.624,000, after buying an additional 1,091 in the last quarter. Cerity Partners LLC increased its shares of Enerplus in the fourth-quarter by 9.4%. Cerity Partners LLC owns now 14,177 shares worth $250,000 of the oil company's stock after buying 1,222 additional shares during the last quarter. Bridgefront Capital LLC increased its holdings of Enerplus shares by 11.8% during the third quarter. Bridgefront Capital LLC owns now 13,138 shares worth $186,000 of the stock of the oil company after buying 1,390 additional shares during the last quarter. Hedge funds and institutional investors own 53.01%.
Analyst Ratings Changes
Recent comments from several analysts on ERF's shares. In a report published on Monday, 8th May, lowered the rating of Enerplus shares from a "buy" to a "hold". Barclays upgraded Enerplus shares from an equal weight' to an overweight' in a report published on Thursday, April 20, 2010. Four analysts have given the company a buy recommendation, while two have given the stock a hold. According to MarketBeat.com the stock has an average rating 'Moderate buy' with a consensus price target of $25.43.
Enerplus Company profile
Enerplus Corp. is engaged in the production and exploration of crude oil. It operates in the Willston Basin Marcellus Shale and Canadian Waterfloods. The company has interests in North Dakota as well as Colorado, Pennsylvania and the provinces of Alberta, Saskatchewan, and Alberta. The company was established in 1986 in Calgary, Canada.
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