Canoe Financial LP Has $96.81 Million Position in Enerflex Ltd. $EFXT

Canoe Financial LP lessened its stake in Enerflex Ltd. (NYSE:EFXT) by 24.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,629,559 shares of the company’s stock after selling 1,528,286 shares during the period. Canoe Financial LP owned about 3.79% of Enerflex worth $96,810,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in Enerflex by 351.0% in the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock valued at $8,747,000 after acquiring an additional 880,358 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Enerflex by 984.3% during the first quarter. NewEdge Advisors LLC now owns 22,791 shares of the company’s stock valued at $176,000 after purchasing an additional 20,689 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Enerflex by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after purchasing an additional 752,893 shares during the period. Geode Capital Management LLC raised its stake in shares of Enerflex by 28.1% in the second quarter. Geode Capital Management LLC now owns 83,987 shares of the company’s stock valued at $665,000 after purchasing an additional 18,434 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Enerflex by 8.3% in the second quarter. Legal & General Group Plc now owns 155,243 shares of the company’s stock valued at $1,223,000 after purchasing an additional 11,920 shares in the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.

Enerflex Stock Performance

Shares of NYSE:EFXT opened at $24.90 on Monday. The business has a fifty day moving average of $25.62 and a 200-day moving average of $21.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.20. Enerflex Ltd. has a twelve month low of $7.59 and a twelve month high of $29.15. The firm has a market cap of $3.04 billion, a PE ratio of 37.16 and a beta of 1.83.

Enerflex (NYSE:EFXT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The business had revenue of $584.00 million for the quarter, compared to the consensus estimate of $607.26 million. Enerflex had a net margin of 3.19% and a return on equity of 14.53%. On average, equities research analysts predict that Enerflex Ltd. will post 1.66 EPS for the current fiscal year.

Enerflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were paid a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 20th. Enerflex’s dividend payout ratio is 19.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EFXT shares. Weiss Ratings upgraded shares of Enerflex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. TD Securities restated a “buy” rating on shares of Enerflex in a research note on Friday, May 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Enerflex in a report on Friday, May 8th. National Bank Financial upgraded shares of Enerflex from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial upped their price objective on Enerflex from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Enerflex currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Enerflex 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.