Enerplus (ERF) Declares $0.06 Dividend
Enerplus said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.22 annualized). Previously, the company paid $0.07 per share.
Shares must be purchased before the ex-div date of May 30, 2023 to qualify for the dividend. Shareholders of record as of May 31, 2023 will receive the payment on June 15, 2023.
At the current share price of $14.61 / share, the stock's dividend yield is 1.51%.
Additionally, the company's dividend payout ratio is 0.03. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 299 funds or institutions reporting positions in Enerplus. This is an increase of 15 owner(s) or 5.28% in the last quarter. Average portfolio weight of all funds dedicated to ERF is 0.25%, a decrease of 17.00%. Total shares owned by institutions decreased in the last three months by 10.90% to 111,176K shares. 
The put/call ratio of ERF is 0.51, indicating a bullish outlook.
Analyst Price Forecast Suggests 24.07% Upside
As of April 24, 2023, the average one-year price target for Enerplus is 18.13. The forecasts range from a low of 14.19 to a high of $23.68. The average price target represents an increase of 24.07% from its latest reported closing price of 14.61.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Enerplus is 2,060MM. The projected annual non-GAAP EPS is 4.05.
What are Other Shareholders Doing?
Royal Bank Of Canada holds 9,042K shares representing 4.17% ownership of the company. In it's prior filing, the firm reported owning 8,008K shares, representing an increase of 11.44%. The firm increased its portfolio allocation in ERF by 28.13% over the last quarter.
Key Group Holdings holds 8,816K shares representing 4.06% ownership of the company. In it's prior filing, the firm reported owning 10,792K shares, representing a decrease of 22.41%. The firm decreased its portfolio allocation in ERF by 0.80% over the last quarter.
Kimmeridge Energy Management Company holds 7,691K shares representing 3.55% ownership of the company. No change in the last quarter.
Wellington Management Group Llp holds 6,056K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 7,066K shares, representing a decrease of 16.69%. The firm increased its portfolio allocation in ERF by 0.16% over the last quarter.
Adage Capital Partners Gp, L.l.c. holds 5,071K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 7,321K shares, representing a decrease of 44.37%. The firm decreased its portfolio allocation in ERF by 16.79% over the last quarter.
Enerplus Background Information
(This description is provided by the company.)
Enerplus is an independent North American oil and gas exploration and production company focused on creating long-term value for its shareholders through a disciplined, returns-based capital allocation strategy and a commitment to safe, responsible operations.
This story originally appeared on Fintel.