Foundry Partners LLC Acquires 106,410 Shares of Enerplus Co. (NYSE:ERF)

Foundry Partners LLC grew its holdings in shares of Enerplus Co. (NYSE:ERFFree Report) (TSE:ERF) by 29.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 465,587 shares of the oil and natural gas company’s stock after purchasing an additional 106,410 shares during the quarter. Foundry Partners LLC owned approximately 0.22% of Enerplus worth $8,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ninepoint Partners LP purchased a new stake in Enerplus in the 3rd quarter worth approximately $88,150,000. Palo Duro Investment Partners LP purchased a new stake in Enerplus in the 1st quarter worth approximately $48,125,000. Bank of Montreal Can purchased a new stake in Enerplus in the 2nd quarter worth approximately $27,403,000. Westwood Holdings Group Inc. increased its holdings in Enerplus by 75.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,131,810 shares of the oil and natural gas company’s stock worth $59,787,000 after acquiring an additional 1,771,056 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Enerplus in the 1st quarter worth approximately $20,622,000. Hedge funds and other institutional investors own 56.60% of the company’s stock.

Wall Street Analyst Weigh In

ERF has been the subject of several analyst reports. CIBC reduced their target price on shares of Enerplus from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. National Bankshares dropped their price target on Enerplus from $25.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada upped their price target on Enerplus from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.86.

Get Our Latest Research Report on ERF

Enerplus Price Performance

Shares of NYSE ERF traded up $0.44 during midday trading on Monday, reaching $15.99. 1,070,587 shares of the stock traded hands, compared to its average volume of 2,041,487. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $3.24 billion, a PE ratio of 5.22 and a beta of 1.95. Enerplus Co. has a one year low of $12.84 and a one year high of $18.09. The company’s 50 day moving average is $14.78 and its 200 day moving average is $16.12.

About Enerplus

(Free Report)

Enerplus Corporation, together with subsidiaries, acquires, develops, and explores crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. Enerplus Corporation was founded in 1986 and is headquartered in Calgary, Canada.

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Institutional Ownership by Quarter for Enerplus (NYSE:ERF)

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