TD Securities lowered shares of Enerflex (NYSE:EFXT – Free Report) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks reports.
EFXT has been the topic of several other research reports. Wall Street Zen raised Enerflex from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Weiss Ratings raised Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Zacks Research raised Enerflex from a “strong sell” rating to a “hold” rating in a report on Friday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Enerflex in a report on Friday, October 16th. Finally, Canadian Imperial Bank of Commerce set a $35.00 target price on shares of Enerflex and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.
Get Our Latest Stock Report on Enerflex
Enerflex Price Performance
EFXT opened at $18.88 on Wednesday. The stock’s 50-day moving average price is $23.12 and its 200 day moving average price is $22.65. Enerflex has a 12-month low of $12.57 and a 12-month high of $29.15. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 32.55 and a beta of 1.79. The company has a current ratio of 1.23, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48.
Enerflex (NYSE:EFXT – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.33 by $0.12. Enerflex had a net margin of 2.94% and a return on equity of 13.15%. The business had revenue of $623.00 million during the quarter, compared to the consensus estimate of $632.70 million. As a group, sell-side analysts expect that Enerflex will post 1.42 earnings per share for the current year.
Enerflex Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be paid a dividend of C$0.04 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.14 annualized dividend and a dividend yield of 0.7%. This is a decrease from Enerflex’s previous quarterly dividend of C$0.04. Enerflex’s dividend payout ratio is 15.52%.
Institutional Investors Weigh In On Enerflex
Hedge funds and other institutional investors have recently modified their holdings of the company. Pictet Asset Management Holding SA lifted its stake in shares of Enerflex by 3.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 23,935 shares of the company’s stock worth $546,000 after purchasing an additional 794 shares during the period. Montrusco Bolton Investments Inc. boosted its holdings in shares of Enerflex by 694.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 211,736 shares of the company’s stock worth $4,829,000 after purchasing an additional 185,086 shares during the last quarter. Wellington Altus USA Inc. acquired a new stake in shares of Enerflex during the second quarter worth $185,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Enerflex in the second quarter valued at $79,000. Finally, TD Waterhouse Canada Inc. grew its position in shares of Enerflex by 74.7% in the second quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock valued at $13,170,000 after purchasing an additional 238,574 shares during the period. 46.47% of the stock is currently owned by hedge funds and other institutional investors.
Enerflex Company Profile
Enerflex Ltd. (NYSE: EFXT) is a Calgary-based energy infrastructure company that provides equipment, services and solutions for the processing, compression and transportation of natural gas. Its offerings support energy producers, midstream operators and industrial customers across the natural gas value chain.
The company designs, engineers, manufactures, commissions and services natural gas compression systems, gas processing and treating facilities, refrigeration and cryogenic systems, and electric power generation equipment.
Recommended Stories
- Five stocks we like better than Enerflex
- GE Aerospace Has a $170 Billion Backlog, But Is the Stock Worth the Premium?
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
Receive News & Ratings for Enerflex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enerflex and related companies with MarketBeat.com's FREE daily email newsletter.
