1832 Asset Management L.P. Buys 516,300 Shares of Enerflex Ltd. (NYSE:EFXT)

1832 Asset Management L.P. lifted its stake in shares of Enerflex Ltd. (NYSE:EFXT) by 6.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,901,000 shares of the company’s stock after purchasing an additional 516,300 shares during the period. 1832 Asset Management L.P. owned 7.18% of Enerflex worth $51,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EFXT. Avidian Wealth Solutions LLC acquired a new position in shares of Enerflex during the 1st quarter worth approximately $90,000. Scotia Capital Inc. acquired a new position in shares of Enerflex during the 4th quarter worth approximately $81,000. Aigen Investment Management LP increased its holdings in shares of Enerflex by 110.3% during the 4th quarter. Aigen Investment Management LP now owns 46,076 shares of the company’s stock worth $213,000 after acquiring an additional 24,163 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of Enerflex during the 4th quarter worth approximately $228,000. Finally, K.J. Harrison & Partners Inc increased its holdings in shares of Enerflex by 67.5% during the 4th quarter. K.J. Harrison & Partners Inc now owns 207,700 shares of the company’s stock worth $963,000 after acquiring an additional 83,700 shares during the last quarter. Institutional investors own 46.47% of the company’s stock.

Enerflex Stock Performance

NYSE EFXT traded up $0.02 on Friday, reaching $5.55. The stock had a trading volume of 72,903 shares, compared to its average volume of 100,608. The company has a market cap of $688.42 million, a P/E ratio of -6.24 and a beta of 2.01. Enerflex Ltd. has a 1-year low of $3.94 and a 1-year high of $8.36. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a fifty day moving average of $5.21 and a two-hundred day moving average of $5.42.

Enerflex (NYSE:EFXT) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25). The company had revenue of $638.00 million for the quarter, compared to analyst estimates of $574.35 million. Enerflex had a negative return on equity of 2.47% and a negative net margin of 4.61%. On average, equities research analysts anticipate that Enerflex Ltd. will post 0.28 EPS for the current year.

Enerflex Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.018 per share. This represents a $0.07 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Wednesday, May 22nd. Enerflex’s dividend payout ratio (DPR) is currently -7.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EFXT. National Bank Financial lowered Enerflex from a “strong-buy” rating to a “hold” rating in a report on Sunday, June 2nd. Acumen Capital raised Enerflex to a “strong-buy” rating in a report on Saturday, June 1st.

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.