Canoe Financial LP Sells 67,998 Shares of Enerflex Ltd. $EFXT

Canoe Financial LP cut its stake in Enerflex Ltd. (NYSE:EFXT) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,163,214 shares of the company’s stock after selling 67,998 shares during the period. Canoe Financial LP owned 0.05% of Enerflex worth $66,459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Acadian Asset Management LLC increased its holdings in shares of Enerflex by 29.0% in the second quarter. Acadian Asset Management LLC now owns 2,072,660 shares of the company’s stock valued at $16,312,000 after purchasing an additional 466,535 shares in the last quarter. NewGen Equity Long Short Fund bought a new position in Enerflex in the 2nd quarter valued at $5,628,000. Allianz Asset Management GmbH acquired a new stake in shares of Enerflex in the 2nd quarter valued at $1,718,000. Public Employees Retirement System of Ohio raised its position in shares of Enerflex by 43.6% during the second quarter. Public Employees Retirement System of Ohio now owns 165,373 shares of the company’s stock worth $1,303,000 after acquiring an additional 50,193 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Enerflex by 131.8% during the first quarter. American Century Companies Inc. now owns 126,293 shares of the company’s stock worth $976,000 after acquiring an additional 71,815 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Enerflex Stock Down 0.1%

Shares of NYSE EFXT opened at $15.19 on Friday. Enerflex Ltd. has a 52-week low of $6.18 and a 52-week high of $16.01. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.88 and a current ratio of 1.24. The stock has a market cap of $1.85 billion, a P/E ratio of 13.81 and a beta of 1.99. The firm has a 50 day moving average price of $13.69 and a 200 day moving average price of $10.80.

Enerflex (NYSE:EFXT) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Enerflex had a return on equity of 12.35% and a net margin of 5.43%.The firm had revenue of $777.00 million for the quarter, compared to the consensus estimate of $682.88 million. Analysts expect that Enerflex Ltd. will post 0.25 EPS for the current year.

Enerflex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were paid a $0.0425 dividend. The ex-dividend date of this dividend was Monday, November 17th. This is a positive change from Enerflex’s previous quarterly dividend of $0.04. This represents a $0.17 dividend on an annualized basis and a yield of 1.1%. Enerflex’s payout ratio is presently 10.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Enerflex from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Royal Bank Of Canada raised their target price on shares of Enerflex from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Enerflex in a research report on Wednesday, October 8th. Raymond James Financial upgraded shares of Enerflex from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Finally, Zacks Research cut shares of Enerflex from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Enerflex Company Profile

Enerflex Ltd is a Calgary‐headquartered energy infrastructure company specializing in the design, fabrication, installation and aftermarket support of natural gas compression, processing, refrigeration and treatment equipment. Its product portfolio includes reciprocating and centrifugal compression systems, gas treating and refrigeration packages, fuel gas conditioning and liquid separation solutions. In addition to equipment sales, Enerflex delivers field services such as commissioning, maintenance, monitoring and parts supply to optimize asset performance throughout the lifecycle.

The company supports upstream, midstream and downstream energy customers through an integrated offering that spans engineering, procurement and construction (EPC) as well as modular fabrication.