Mackenzie Financial Corp Stake in Enerplus Corp (ERF) Has Decreased by $43.10 Million as Share Value Declined

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 4.79 million shares as the company’s stock declined 23.56% . The hedge fund held 9.64 million shares of the oil & gas production company at the end of 2019Q2, valued at $95.10M, down from 14.42 million 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 $61.70B and $18.54 billion US Long portfolio, upped its stake in Cdn Imperial Bk Comm Toronto (NYSE:CM) by 440,273 shares to 1.48M shares, valued at $129.26M in 2019Q2, according to the filing. It also increased its holding in Waters Corp (NYSE:WAT) by 398,438 shares in the quarter, for a total of 651,400 shares, and has risen its stake in Enbridge Inc (NYSE:ENB).

Analysts await Enerplus Corporation (NYSE:ERF) to report earnings on November, 8. They expect $0.23 earnings per share, down 14.81 % or $0.04 from last year’s $0.27 per share. ERF’s profit will be $52.81 million for 7.23 P/E if the $0.23 EPS becomes a reality. After $0.27 actual earnings per share 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 Clear Channel Outdoor Holdings, Inc. (CCO) A Good Stock To Buy? – Yahoo Finance” on April 30, 2019, also Benzinga.com with their article: “Earnings Scheduled For August 9, 2019 – Benzinga” published on August 09, 2019, Benzinga.com published: “Earnings Scheduled For May 10, 2019 – Benzinga” on May 10, 2019. More interesting news about Enerplus Corporation (NYSE:ERF) were released by: Twst.com and their article: “Enerplus Corporation: Enerplus Announces Cash Dividend for October 2019 – The Wall Street Transcript” published on September 19, 2019 as well as Seekingalpha.com‘s news article titled: “China Natural Resources and Enerplus among Energy/Materials gainers; ProPetro and Chaparral Energy among losers – Seeking Alpha” with publication date: August 09, 2019.

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