It appears Enerplus is still trying to find traction in order to raise cash and harvest the valuable oil and gas assets the company currently possesses. Like Pengrowth, Enerplus halved its dividend in a pre-emptive attempt to shore up its balance sheet. After announcing its second-quarter earnings, Enerplus still has a ways to go before it can adequately reward its shareholders with strong dividends and steady capital gains.
Enerplus still has plenty of hiking to do before it reaches its peak, but there are plenty of other companies that are poised for gains in the near term. If you are looking for something different, then you should check out our new free report, "The Motley Fool's Top Stock for 2012." In it, our chief investment officer identifies his favorite company for the year. To access the report before the rest of the market catches on, click here -- it's absolutely free.
Austin Smith and Joel South has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.