The Manufacturers Life Insurance Company acquired a new stake in Enerflex Ltd. (NYSE:EFXT – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 492,959 shares of the company’s stock, valued at approximately $12,082,000.
Several other hedge funds have also recently modified their holdings of EFXT. Millennium Management LLC boosted its stake in shares of Enerflex by 351.0% in the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock worth $8,747,000 after buying an additional 880,358 shares during 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 acquiring an additional 20,689 shares during the last quarter. 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 acquiring an additional 752,893 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Enerflex by 28.1% during the second quarter. Geode Capital Management LLC now owns 83,987 shares of the company’s stock worth $665,000 after acquiring an additional 18,434 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Enerflex by 8.3% during the second quarter. Legal & General Group Plc now owns 155,243 shares of the company’s stock worth $1,223,000 after acquiring an additional 11,920 shares during the period. Institutional investors own 46.47% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on EFXT shares. BMO Capital Markets restated an “outperform” rating on shares of Enerflex in a research note on Friday, May 8th. Canadian Imperial Bank of Commerce set a $27.50 target price on Enerflex in a research note on Monday, August 10th. Weiss Ratings downgraded shares of Enerflex from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 20th. National Bank Financial raised shares of Enerflex from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 7th. Finally, Zacks Research lowered shares of Enerflex from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.17.
Enerflex Price Performance
Enerflex stock opened at $20.01 on Friday. The business’s 50 day simple moving average is $22.53 and its 200 day simple moving average is $22.96. Enerflex Ltd. has a 12 month low of $9.81 and a 12 month high of $29.15. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 46.53 and a beta of 1.86. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.
Enerflex (NYSE:EFXT – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). The firm had revenue of $582.00 million during the quarter, compared to analysts’ expectations of $606.78 million. Enerflex had a return on equity of 11.76% and a net margin of 2.06%. Sell-side analysts forecast that Enerflex Ltd. will post 1.34 EPS for the current year.
Enerflex Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.0425 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.17 annualized dividend and a yield of 0.8%. Enerflex’s dividend payout ratio is 27.91%.
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.
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