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NEW YORK ( TheStreet) -- Enerplus (NYSE: ERF) hit a new 52-week low Friday as it is currently trading at $18.86, below its previous 52-week low of $19.04 with 507,727 shares traded as of 10:40 a.m. ET. Average volume has been 1.4 million shares over the past 30 days. Enerplus has a market cap of $3.88 billion and is part of the basic materials sector and energy industry. Shares are down 24.6% year to date as of the close of trading on Thursday. Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in United States and Canada. As of December 31, 2011, it had 322 MMBOE of proved plus probable reserves. The company has a P/E ratio of 31.8, below the average energy industry P/E ratio of 33.1 and above the S&P 500 P/E ratio of 17.7.