Dividend Coverage: This Oil and Natural Gas Company has a Dividend Yield of 1.40%; Will Trade Ex-Dividend on October 27, 2017
LONDON, UK / ACCESSWIRE / October 25, 2017 / Pro-Trader Daily takes a closer look at Enerplus Corp. (NYSE: ERF) as the Company's stock will begin trading ex-dividend on October 27, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on October 26, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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On October 19, 2017, Enerplus announced that a cash dividend in the amount of CDN$0.01 per share will be payable on November 15, 2017, to all shareholders of record at the close of business on October 30, 2017.
Enerplus stated that the CDN$0.01 per share dividend is equivalent to approximately US$0.01 per share if converted using the Canadian/US dollar exchange rate of 0.8009 as on the announcement date. The US dollar equivalent dividend will be based upon the actual Canadian/US exchange rate applied on the payment date and will be net of any Canadian withholding taxes that may be applicable.
Enerplus' indicated dividend represents a yield of 1.40% compared to the average dividend yield of 2.30% for the Basic Materials sector.
Dividend Insights
Enerplus has a dividend payout ratio of 12.5%, which means that the Company distributes approximately $0.13 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Enerplus is estimated to report earnings of $0.62 for the next year, which is more than five times the Company's annualized dividend of $0.12 per share.
Enerplus' total debt net of cash at June 30, 2017, was $308.1 million. The Company was undrawn on its $800 million bank credit facility, and had a cash balance of $385.1 million. At June 30, 2017, Enerplus' net debt to adjusted funds flow ratio was 0.7 times. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Enerplus
On October 06, 2017, Enerplus announced that it will be releasing operating and financial results for the quarter ended September 30, 2017, prior to market open on November 09, 2017. A conference call will be hosted by Enerplus' President and CEO, Mr. Ian C. Dundas, at 11:00 AM ET to discuss these results.
About Enerplus
Enerplus, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The Company's oil and natural gas properties are located primarily in North Dakota, Montana, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan. As of December 31, 2016, it had proven plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil; 39.0 MMbbls of heavy crude oil; 123.0 MMbbls of tight oil; 18.1 MMbbls of natural gas liquids; 126.3 billion cubic feet (Bcf) of conventional natural gas; and 1,002.8 Bcf of shale gas.
The Company was founded in 1986 and is headquartered in Calgary, Canada.
Stock Performance
At the closing bell, on Tuesday, October 24, 2017, Enerplus' stock marginally fell 0.70%, ending the trading session at $8.48. A total volume of 583.21 thousand shares have exchanged hands. The Company's stock price surged 14.13% in the past six months and 16.01% in the previous twelve months. The stock is trading at a PE ratio of 2.90 and has a dividend yield of 1.18%. The stock currently has a market cap of $2.08 billion.
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