Connor Clark & Lunn Investment Management Ltd. Sells 583,825 Shares of Enerflex Ltd. $EFXT

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Enerflex Ltd. (NYSE:EFXT) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,698,625 shares of the company’s stock after selling 583,825 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Enerflex were worth $45,015,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in Enerflex during the first quarter valued at $130,000. Envestnet Asset Management Inc. purchased a new stake in shares of Enerflex during the 1st quarter valued at about $863,000. Y Intercept Hong Kong Ltd bought a new position in shares of Enerflex in the 1st quarter worth approximately $303,000. TD Asset Management Inc boosted its holdings in shares of Enerflex by 59.8% in the first quarter. TD Asset Management Inc now owns 1,891,990 shares of the company’s stock worth $14,618,000 after buying an additional 708,153 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Enerflex by 21.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,096 shares of the company’s stock valued at $302,000 after buying an additional 6,793 shares during the period. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Enerflex Trading Up 0.3%

EFXT stock opened at $13.41 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 0.88. Enerflex Ltd. has a 1-year low of $6.18 and a 1-year high of $13.74. The business has a 50 day simple moving average of $11.27 and a two-hundred day simple moving average of $9.10. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 12.19 and a beta of 2.02.

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

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $0.0425 per share. This is a boost from Enerflex’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.17 annualized dividend and a dividend yield of 1.3%. Enerflex’s payout ratio is currently 10.00%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EFXT shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Enerflex in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their target price on Enerflex from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday. Zacks Research upgraded Enerflex from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Enerflex in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded Enerflex from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enerflex has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Enerflex 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.