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NEW YORK ( TheStreet) -- Enerplus (NYSE: ERF) hit a new 52-week low Thursday as it is currently trading at $12.22, below its previous 52-week low of $12.25 with 719,458 shares traded as of 12:05 p.m. ET. Average volume has been 2.2 million shares over the past 30 days. Enerplus has a market cap of $2.52 billion and is part of the basic materials sector and energy industry. Shares are down 49.7% year to date as of the close of trading on Wednesday. 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 47.4, above the average energy industry P/E ratio of 33.7 and above the S&P 500 P/E ratio of 17.7.