Enerflex Ltd. (NYSE:EFXT – Get Free Report)’s share price gapped up prior to trading on Thursday. The stock had previously closed at $22.79, but opened at $25.75. Enerflex shares last traded at $26.1110, with a volume of 358,276 shares traded.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on EFXT shares. Wall Street Zen cut Enerflex from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings cut Enerflex from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 20th. Canadian Imperial Bank of Commerce set a $27.50 price target on Enerflex in a research report on Monday, August 10th. Finally, Zacks Research lowered Enerflex from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.17.
Get Our Latest Stock Analysis on EFXT
Enerflex Stock Performance
Enerflex (NYSE:EFXT – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.06). Enerflex had a return on equity of 11.76% and a net margin of 2.06%.The firm had revenue of $582.00 million during the quarter, compared to analyst estimates of $606.78 million. As a group, sell-side analysts expect that Enerflex Ltd. will post 1.34 earnings per share for the current year.
Enerflex Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a C$0.04 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.7%. Enerflex’s payout ratio is currently 27.91%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Enerflex during the 2nd quarter worth $330,515,000. TD Asset Management Inc raised its position in shares of Enerflex by 31.8% in the fourth quarter. TD Asset Management Inc now owns 2,151,660 shares of the company’s stock valued at $33,215,000 after buying an additional 518,639 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Enerflex in the second quarter valued at about $30,569,000. Dimensional Fund Advisors LP lifted its stake in shares of Enerflex by 33.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,208,011 shares of the company’s stock worth $25,268,000 after buying an additional 303,398 shares in the last quarter. Finally, Cibc World Market Inc. purchased a new position in shares of Enerflex in the second quarter worth about $15,851,000. 46.47% of the stock is owned by institutional investors and hedge funds.
About Enerflex
Enerflex Ltd. (NYSE: EFXT) is a global provider of natural gas infrastructure and energy solutions. The company designs, engineers, manufactures, commissions and operates equipment and facilities used to process, compress, treat and transport natural gas and other hydrocarbons.
Its products and services include natural gas compression, gas processing and treating systems, refrigeration and power-generation equipment, and related engineering, procurement and construction services. Enerflex also provides aftermarket support, including parts, maintenance, technical services and contract operations for energy infrastructure.
Headquartered in Calgary, Alberta, Enerflex serves energy producers and infrastructure operators across multiple international markets, including North America, Latin America, the Middle East and Australia.
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