Enerplus Corporation [ERF] moved up 0.61: Why It’s Important

Enerplus Corporation [NYSE: ERF] traded at a high on Wednesday, posting a 0.61 gain after which it closed the day’ session at $18.10. The company report on February 21, 2024 at 5:45 PM that Enerplus Announces an 8% Increase to its Quarterly Cash Dividend for March 2024.

Enerplus Corporation (“Enerplus”) (TSX: ERF) (NYSE: ERF) today announced that its dividend will increase 8%, to US$0.065 per share, effective with the March 15, 2024 dividend, which is payable to all shareholders of record at the close of business on March 4, 2024. The ex-dividend date for this payment is March 1, 2024.

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The US$0.065 per share dividend is equivalent to approximately CDN$0.088 per share if converted using the current US/Canadian dollar exchange rate of 1.35. The CDN dollar equivalent dividend will be based upon the US/Canadian exchange rate closer to the payment date. Payments to shareholders who are not residents of Canada will be net of any Canadian withholding taxes that may be applicable. Dividends paid by Enerplus are considered “eligible dividends” for Canadian tax purposes. For U.S. income tax purposes, Enerplus’ dividends are considered “qualified dividends”.

The results of the trading session contributed to over 3891393 shares changing hands. Over the past one week, the price volatility of Enerplus Corporation stands at 1.53% while the volatility over the past one month is 2.30%.

The market cap for ERF stock reached $3.68 billion, with 202.20 million shares outstanding and 192.78 million shares in the current float. Compared to the average trading volume of 2.98M shares, ERF reached a trading volume of 3891393 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Enerplus Corporation [ERF]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ERF shares is $19.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ERF stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Enerplus Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 20, 2023. The new note on the price target was released on October 13, 2022, representing the official price target for Enerplus Corporation stock.

The Average True Range (ATR) for Enerplus Corporation is set at 0.41, with the Price to Sales ratio for ERF stock in the period of the last 12 months amounting to 2.21. The Price to Book ratio for the last quarter was 2.98, with the Price to Cash per share for the same quarter was set at 0.33. Price to Free Cash Flow for ERF in the course of the last twelve months was 9.62 with Quick ratio for the last quarter at 0.80.

How has ERF stock performed recently?

Enerplus Corporation [ERF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.06. With this latest performance, ERF shares gained by 13.76% in over the last four-week period, additionally plugging by 2.26% over the last 6 months – not to mention a rise of 23.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ERF stock in for the last two-week period is set at 71.88, with the RSI for the last a single of trading hit 74.49, and the three-weeks RSI is set at 68.66 for Enerplus Corporation [ERF]. The present Moving Average for the last 50 days of trading for this stock 15.70, while it was recorded at 17.93 for the last single week of trading, and 15.97 for the last 200 days.

Enerplus Corporation [ERF]: Deeper insight into the fundamentals

Enerplus Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Earnings analysis for Enerplus Corporation [ERF]

With the latest financial reports released by the company, Enerplus Corporation posted 0.62/share EPS, while the average EPS was predicted by analysts to be reported at 0.64/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ERF. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Enerplus Corporation go to 42.26%.

Insider trade positions for Enerplus Corporation [ERF]

The top three institutional holders of ERF stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ERF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ERF stock with ownership which is approximately 5.8325%.