As Enerplus Corp (ERF) Market Valuation Declined, Mackenzie Financial Corp Cut Stake by $43.10 Million

Enerplus Corporation (NYSE:ERF) Logo

Mackenzie Financial Corp decreased its stake in Enerplus Corp (ERF) by 33.2% based on its latest 2019Q2 regulatory filing with the SEC. Mackenzie Financial Corp sold 4.79M shares as the company’s stock declined 23.56% . The hedge fund held 9.64M shares of the oil & gas production company at the end of 2019Q2, valued at $95.10 million, down from 14.42M at the end of the previous reported quarter. Mackenzie Financial Corp who had been investing in Enerplus Corp for a number of months, seems to be less bullish one the $1.53 billion market cap company. The stock increased 1.53% or $0.1 during the last trading session, reaching $6.65. About 1.16 million shares traded. Enerplus Corporation (NYSE:ERF) has declined 49.12% since October 12, 2018 and is downtrending. It has underperformed by 49.12% the S&P500.

Mackenzie Financial Corp, which manages about $61.70 billion and $18.54 billion US Long portfolio, upped its stake in Waters Corp (NYSE:WAT) by 398,438 shares to 651,400 shares, valued at $116.94M in 2019Q2, according to the filing. It also increased its holding in Plains Gp Hldgs LP by 267,500 shares in the quarter, for a total of 317,500 shares, and has risen its stake in Dexcom Inc (NASDAQ:DXCM).

Analysts await Enerplus Corporation (NYSE:ERF) to report earnings on November, 8. They expect $0.23 EPS, down 14.81 % or $0.04 from last year’s $0.27 per share. ERF’s profit will be $52.81M for 7.23 P/E if the $0.23 EPS becomes a reality. After $0.27 actual EPS reported by Enerplus Corporation for the previous quarter, Wall Street now forecasts -14.81 % negative EPS growth.

More notable recent Enerplus Corporation (NYSE:ERF) news were published by: Finance.Yahoo.com which released: “Is Enerplus (ERF) Stock Undervalued Right Now? – Yahoo Finance” on June 18, 2019, also Finance.Yahoo.com with their article: “Enerplus Announces Cash Dividend for July 2019 – Yahoo Finance” published on June 18, 2019, Benzinga.com published: “Stocks That Fell Through 52-Week Lows Wednesday – Benzinga” on August 07, 2019. More interesting news about Enerplus Corporation (NYSE:ERF) were released by: Benzinga.com and their article: “Stocks That Set New 52-Week Lows Friday Morning – Benzinga” published on August 02, 2019 as well as Finance.Yahoo.com‘s news article titled: “Enerplus Announces Cash Dividend for September 2019 – Yahoo Finance” with publication date: August 20, 2019.

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