NewGen Asset Management Ltd Has $6.67 Million Holdings in Enerflex Ltd. (NYSE:EFXT)

NewGen Asset Management Ltd trimmed its holdings in Enerflex Ltd. (NYSE:EFXT - Free Report) by 52.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 670,355 shares of the company's stock after selling 725,000 shares during the quarter. Enerflex accounts for about 6.0% of NewGen Asset Management Ltd's holdings, making the stock its 4th biggest holding. NewGen Asset Management Ltd owned approximately 0.54% of Enerflex worth $6,666,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EFXT. Barclays PLC boosted its position in Enerflex by 2,616,800.0% during the third quarter. Barclays PLC now owns 26,169 shares of the company's stock valued at $156,000 after buying an additional 26,168 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Enerflex by 55.9% in the third quarter. JPMorgan Chase & Co. now owns 77,749 shares of the company's stock worth $463,000 after purchasing an additional 27,878 shares during the last quarter. Canoe Financial LP increased its stake in shares of Enerflex by 10.2% in the fourth quarter. Canoe Financial LP now owns 8,276,972 shares of the company's stock worth $82,342,000 after buying an additional 768,210 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Enerflex during the 4th quarter valued at $43,935,000. Finally, Geode Capital Management LLC grew its holdings in Enerflex by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 61,057 shares of the company's stock worth $364,000 after acquiring an additional 6,158 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada dropped their target price on shares of Enerflex from $14.00 to $12.00 and set an "outperform" rating for the company in a report on Thursday, April 17th.

Enerflex Stock Up 2.2 %

EFXT traded up $0.15 during trading on Thursday, reaching $6.70. The stock had a trading volume of 293,578 shares, compared to its average volume of 279,945. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The stock's 50 day moving average is $7.21 and its two-hundred day moving average is $8.32. The company has a market capitalization of $831.18 million, a price-to-earnings ratio of -10.63 and a beta of 1.95. Enerflex Ltd. has a one year low of $4.60 and a one year high of $10.61.

Enerflex Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a $0.026 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.10 annualized dividend and a dividend yield of 1.55%. Enerflex's payout ratio is currently 40.00%.

About Enerflex

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.