Enerflex Ltd. (NYSE:EFXT) Raises Dividend to $0.04 Per Share

Key Points

• Enerflex Ltd. has announced an increase in its quarterly dividend to $0.04 per share, reflecting a 44.3% rise from the previous dividend of $0.03.
• The company reported earnings of $0.49 per share for the latest quarter, significantly surpassing the consensus estimate of $0.07.
• Institutional investors hold 46.47% of Enerflex's stock, with notable stakes raised by firms like JPMorgan Chase and Bank of Montreal.

Enerflex Ltd. (NYSE:EFXT - Get Free Report) announced a quarterly dividend on Thursday, August 7th, RTT News reports. Investors of record on Monday, August 18th will be paid a dividend of 0.0375 per share on Tuesday, September 2nd. This represents a c) annualized dividend and a yield of 1.9%. This is a 44.3% increase from Enerflex's previous quarterly dividend of $0.03.

Enerflex has a payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Enerflex to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 13.6%.

Enerflex Trading Down 1.2%

NYSE:EFXT opened at $8.06 on Thursday. Enerflex has a 52 week low of $5.26 and a 52 week high of $10.61. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 0.64. The company has a market cap of $987.50 million, a PE ratio of 13.65 and a beta of 2.00. The business's 50 day moving average is $7.86 and its two-hundred day moving average is $7.81.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.42. Enerflex had a return on equity of 5.23% and a net margin of 3.18%. On average, analysts predict that Enerflex will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Enerflex

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Enerflex by 28.0% during the fourth quarter. JPMorgan Chase & Co. now owns 99,550 shares of the company's stock valued at $991,000 after purchasing an additional 21,801 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Enerflex by 54.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 25,102 shares of the company's stock worth $250,000 after acquiring an additional 8,870 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Enerflex by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 63,885 shares of the company's stock worth $642,000 after purchasing an additional 2,828 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Enerflex during the fourth quarter valued at $185,000. Finally, Bank of Montreal Can boosted its position in shares of Enerflex by 44.4% in the 4th quarter. Bank of Montreal Can now owns 705,114 shares of the company's stock valued at $7,010,000 after purchasing an additional 216,839 shares during the period. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.

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