Enerflex Ltd. (NYSE:EFXT) Short Interest Update

Key Points

• Enerflex Ltd. saw a significant decrease in short interest of 27.8% in September, bringing the total to 1,220,000 shares, which is approximately 1.0% of the company's shares.
• The company recently increased its quarterly dividend to $0.0375 per share, representing a yield of 1.3% and an annualized amount of $0.15.
• Wall Street analysts are generally optimistic about Enerflex, with a consensus price target of $12.13 and three analysts rating the stock as a Buy.

Enerflex Ltd. (NYSE:EFXT - Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 1,220,000 shares, a decrease of 27.8% from the August 31st total of 1,690,000 shares. Approximately 1.0% of the company's shares are sold short. Based on an average daily trading volume, of 410,800 shares, the days-to-cover ratio is currently 3.0 days. Based on an average daily trading volume, of 410,800 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.0% of the company's shares are sold short.

Enerflex Price Performance

Shares of EFXT stock opened at $11.52 on Tuesday. Enerflex has a fifty-two week low of $6.18 and a fifty-two week high of $11.51. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 1.19. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.01 and a beta of 2.01. The stock's 50-day simple moving average is $9.94 and its 200-day simple moving average is $8.26.

Enerflex (NYSE:EFXT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.42. Enerflex had a net margin of 5.54% and a return on equity of 10.21%. The business had revenue of $615.00 million for the quarter, compared to analyst estimates of $555.24 million. As a group, equities analysts forecast that Enerflex will post 0.25 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.0375 per share. This is an increase from Enerflex's previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, August 18th. Enerflex's dividend payout ratio (DPR) is 10.58%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in shares of Enerflex by 2.5% in the second quarter. Lazard Asset Management LLC now owns 101,048 shares of the company's stock worth $797,000 after acquiring an additional 2,468 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Enerflex by 15.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 23,628 shares of the company's stock worth $186,000 after acquiring an additional 3,098 shares during the last quarter. Baron Wealth Management LLC lifted its stake in Enerflex by 31.7% during the 2nd quarter. Baron Wealth Management LLC now owns 15,215 shares of the company's stock worth $120,000 after acquiring an additional 3,666 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its stake in shares of Enerflex by 2.2% in the first quarter. Northwest & Ethical Investments L.P. now owns 204,109 shares of the company's stock valued at $1,578,000 after purchasing an additional 4,486 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Enerflex by 7.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 75,332 shares of the company's stock worth $595,000 after acquiring an additional 5,427 shares during the period. Institutional investors and hedge funds own 46.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Enerflex in a report on Saturday, September 27th. BMO Capital Markets reiterated an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Enerflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Royal Bank Of Canada boosted their target price on shares of Enerflex from $13.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, September 25th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Enerflex currently has an average rating of "Moderate Buy" and a consensus price target of $12.13.

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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