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NEW YORK ( TheStreet) -- Enerplus (NYSE: ERF) hit a new 52-week low Monday as it is currently trading at $12.92, below its previous 52-week low of $13 with 1.9 million shares traded as of 2:10 p.m. ET. Average volume has been two million shares over the past 30 days. Enerplus has a market cap of $2.71 billion and is part of the basic materials sector and energy industry. Shares are down 45.5% year to date as of the close of trading on Friday. 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 51, above the average energy industry P/E ratio of 36.3 and above the S&P 500 P/E ratio of 17.7.