Letko Brosseau & Associates Inc. Has $63.83 Million Stock Position in Enerflex Ltd. (NYSE:EFXT)

Letko Brosseau & Associates Inc. trimmed its stake in Enerflex Ltd. (NYSE:EFXT) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,415,261 shares of the company’s stock after selling 208,150 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 5.17% of Enerflex worth $63,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EFXT. Canoe Financial LP increased its holdings in Enerflex by 10.2% during the 4th quarter. Canoe Financial LP now owns 8,276,972 shares of the company’s stock worth $82,342,000 after acquiring an additional 768,210 shares during the period. Hillsdale Investment Management Inc. grew its holdings in Enerflex by 3,307.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 4,895,901 shares of the company’s stock worth $48,685,000 after acquiring an additional 4,752,201 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Enerflex in the 4th quarter worth $43,935,000. Bank of Montreal Can grew its holdings in Enerflex by 44.4% in the 4th quarter. Bank of Montreal Can now owns 705,114 shares of the company’s stock worth $7,010,000 after acquiring an additional 216,839 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Enerflex in the 4th quarter worth about $5,871,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Enerflex Stock Up 0.4%

EFXT stock opened at $6.82 on Monday. Enerflex Ltd. has a 52 week low of $4.60 and a 52 week high of $10.61. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $846.70 million, a PE ratio of -10.83 and a beta of 2.02. The firm has a 50 day moving average of $7.03 and a 200 day moving average of $8.36.

Enerflex (NYSE:EFXT) last posted its earnings results on Thursday, May 8th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.07. The firm had revenue of $552.00 million during the quarter, compared to analyst estimates of $583.59 million. Enerflex had a negative net margin of 3.15% and a negative return on equity of 1.25%. Sell-side analysts forecast that Enerflex Ltd. will post 0.25 earnings per share for the current year.

Enerflex Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a dividend of $0.026 per share. The ex-dividend date was Monday, March 10th. This represents a $0.10 annualized dividend and a dividend yield of 1.52%. Enerflex’s payout ratio is 16.95%.

Wall Street Analyst Weigh In

EFXT has been the subject of several research reports. Royal Bank of Canada decreased their price objective on shares of Enerflex from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. CIBC decreased their price target on shares of Enerflex from $10.00 to $9.25 and set a “neutral” rating on the stock in a research note on Friday.

Enerflex Company Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.