K.j. Harrison Partners Inc Lowers stake in Enerplus Corp (USA) (ERF)

Enerplus Corp (USA) (ERF) : K.j. Harrison Partners Inc reduced its stake in Enerplus Corp (USA) by 4.6% during the most recent quarter end. The investment management company now holds a total of 621,081 shares of Enerplus Corp (USA) which is valued at $3,602,270 after selling 29,977 shares in Enerplus Corp (USA) , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Enerplus Corp (USA) makes up approximately 1.88% of K.j. Harrison Partners Inc’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in ERF by selling 63 shares or 2.96% in the most recent quarter. The Hedge Fund company now holds 2,068 shares of ERF which is valued at $11,994.Albert D Mason Inc boosted its stake in ERF in the latest quarter, The investment management firm added 10,315 additional shares and now holds a total of 103,272 shares of Enerplus Corp (USA) which is valued at $674,366. Enerplus Corp (USA) makes up approx 0.41% of Albert D Mason Inc’s portfolio.Gradient Investments reduced its stake in ERF by selling 125 shares or 29.41% in the most recent quarter. The Hedge Fund company now holds 300 shares of ERF which is valued at $1,950.

Enerplus Corp (USA) opened for trading at $5.69 and hit $5.98 on the upside on Friday, eventually ending the session at $5.97, with a gain of 3.65% or 0.21 points. The heightened volatility saw the trading volume jump to 8,98,126 shares. Company has a market cap of $1,237 M.

On the company’s financial health, Enerplus Corp (USA) reported $-0.84 EPS for the quarter, missing the analyst consensus estimate by $ -0.68 based on the information available during the earnings call on May 6, 2016. Analyst had a consensus of $-0.16. The company had revenue of $156.10 million for the quarter, compared to analysts expectations of $186.73 million. The company’s revenue was down -38.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-1.42 EPS.

Many Wall Street Analysts have commented on Enerplus Corp (USA). Enerplus Corp (USA) was Upgraded by Macquarie to ” Outperform” on Jun 6, 2016. Enerplus Corp (USA) was Resumed by Raymond James to “Outperform” on Jun 6, 2016.

Enerplus Corporation is a Canada-based energy producer. The Company’s capital program is focused on the development of its crude oil and natural gas core areas of operation which includes its North Dakota and Montana crude oil assets in the Williston Basin and its natural gas interests in northeast Pennsylvania. The Company’s oil and natural gas property interests are located in western Canada in the provinces of Alberta British Columbia and Saskatchewan and in the United States primarily in the states of Montana North Dakota Pennsylvania and West Virginia. The Company’s properties consist of approximately 42% crude oil and natural gas liquids (NGLs) and 58% natural gas properties. The Company drilled around 14 wells at Brooks; seven injection wells and seven production wells at Medicine Hat and 27.2 net horizontal wells in the Fort Berthold region. It has around 71 net producing wells in the Marcellus. Enerplus USA is a subsidiary of the Company.

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