Letko Brosseau & Associates Inc. Decreases Stock Holdings in Enerflex Ltd. (NYSE:EFXT)

Letko Brosseau & Associates Inc. decreased its stake in shares of Enerflex Ltd. (NYSE:EFXT) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,628,286 shares of the company’s stock after selling 110,800 shares during the period. Letko Brosseau & Associates Inc. owned about 5.34% of Enerflex worth $35,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. lifted its holdings in shares of Enerflex by 6.2% during the 1st quarter. 1832 Asset Management L.P. now owns 8,901,000 shares of the company’s stock valued at $51,893,000 after buying an additional 516,300 shares during the period. Aigen Investment Management LP grew its stake 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 valued at $213,000 after purchasing an additional 24,163 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Enerflex during the 4th quarter valued at about $2,279,000. Canoe Financial LP boosted its holdings in shares of Enerflex by 105.2% in the fourth quarter. Canoe Financial LP now owns 20,393,814 shares of the company’s stock worth $95,239,000 after buying an additional 10,454,383 shares during the last quarter. Finally, Quadrature Capital Ltd grew its position in Enerflex by 7.6% during the fourth quarter. Quadrature Capital Ltd now owns 332,100 shares of the company’s stock valued at $1,544,000 after buying an additional 23,600 shares during the period. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on EFXT. National Bank Financial cut 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 research report on Saturday, June 1st. Finally, Royal Bank of Canada increased their target price on shares of Enerflex from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.00.

Enerflex Price Performance

EFXT stock traded down $0.17 during trading on Friday, reaching $5.60. The company’s stock had a trading volume of 159,270 shares, compared to its average volume of 187,393. The company’s fifty day moving average is $5.59 and its 200-day moving average is $5.56. Enerflex Ltd. has a 1 year low of $3.94 and a 1 year high of $6.39. The company has a market capitalization of $694.65 million, a P/E ratio of -6.30 and a beta of 2.01. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 0.92.

Enerflex (NYSE:EFXT) last issued its earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). Enerflex had a negative net margin of 4.25% and a negative return on equity of 1.86%. The business had revenue of $614.00 million for the quarter, compared to the consensus estimate of $554.20 million. On average, research analysts expect that Enerflex Ltd. will post 0.18 earnings per share for the current fiscal year.

Enerflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Thursday, August 22nd will be given a dividend of $0.018 per share. The ex-dividend date is Thursday, August 22nd. This represents a $0.07 dividend on an annualized basis and a dividend yield of 1.29%. Enerflex’s dividend payout ratio is -7.87%.

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.