Enerplus Corporation [ERF] Is Currently 1.12 below its 200 Period Moving Avg: What Does This Mean?

Enerplus Corporation [NYSE: ERF] gained 1.12% or 0.22 points to close at $19.84 with a heavy trading volume of 4225324 shares. 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 daily chart for ERF points out that the company has recorded 12.54% gains over the past six months.

If we look at the average trading volume of 3.21M shares, ERF reached to a volume of 4225324 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $19.21 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 2.70. 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 0.36, with the Price to Sales ratio for ERF stock in the period of the last 12 months amounting to 2.42. The Price to Book ratio for the last quarter was 3.27, 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 10.54 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for ERF stock

Enerplus Corporation [ERF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.26. With this latest performance, ERF shares gained by 11.65% in over the last four-week period, additionally plugging by 12.54% over the last 6 months – not to mention a rise of 37.30% 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 81.86, with the RSI for the last a single of trading hit 85.98, and the three-weeks RSI is set at 77.47 for Enerplus Corporation [ERF]. The present Moving Average for the last 50 days of trading for this stock 16.86, while it was recorded at 19.53 for the last single week of trading, and 16.27 for the last 200 days.

Enerplus Corporation [ERF]: A deeper dive into fundamental analysis

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

Enerplus Corporation [ERF]: An earnings per share (EPS) analysis

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%.

An analysis of Institutional ownership at Enerplus Corporation [ERF]

The top three institutional holders of ERF stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ERF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ERF stock with ownership which is approximately 5.8386%.