Enerplus Corp (NYSE:ERF) (TSE:ERF) declared a monthly dividend on Tuesday, February 20th, Wall Street Journal reports. Stockholders of record on Wednesday, February 28th will be given a dividend of 0.008 per share by the oil and natural gas company on Thursday, March 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, February 27th.
Enerplus has decreased its dividend payment by an average of 54.2% per year over the last three years. Enerplus has a payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Enerplus to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 11.0%.
Enerplus (ERF) traded down $0.09 during trading hours on Tuesday, hitting $10.47. 831,177 shares of the stock traded hands, compared to its average volume of 1,355,158. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market cap of $2,570.00, a price-to-earnings ratio of 3.21 and a beta of 1.46. Enerplus has a 52-week low of $6.52 and a 52-week high of $11.78.
Several equities analysts have recently weighed in on the stock. AltaCorp Capital reaffirmed a “buy” rating and set a $16.00 target price on shares of Enerplus in a report on Monday, January 15th. Canaccord Genuity reaffirmed a “buy” rating and set a $16.00 target price on shares of Enerplus in a report on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of Enerplus from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Enerplus has an average rating of “Buy” and an average target price of $14.40.
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Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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