1832 Asset Management L.P. Has $54.53 Million Stake in Enerflex Ltd. $EFXT

Key Points

• 1832 Asset Management L.P. has reduced its stake in Enerflex Ltd. by 8.7%, now holding approximately 5.68% of the company worth $54.53 million.
• Enerflex reported earnings of $0.49 per share, significantly surpassing analysts' expectations of $0.07, with revenues reaching $615 million.
• The company recently increased its quarterly dividend from $0.03 to $0.0375 per share, marking an annualized yield of 1.5%.

1832 Asset Management L.P. cut its position in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 8.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,054,700 shares of the company's stock after selling 674,500 shares during the period. 1832 Asset Management L.P. owned 5.68% of Enerflex worth $54,533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Enerflex by 42.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,282,450 shares of the company's stock valued at $48,555,000 after acquiring an additional 1,863,470 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Enerflex by 59.8% in the 1st quarter. TD Asset Management Inc now owns 1,891,990 shares of the company's stock valued at $14,618,000 after acquiring an additional 708,153 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Enerflex by 263.9% in the 4th quarter. Two Sigma Investments LP now owns 659,690 shares of the company's stock valued at $6,564,000 after acquiring an additional 478,407 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Enerflex by 8.6% in the 1st quarter. Mackenzie Financial Corp now owns 4,977,243 shares of the company's stock valued at $38,459,000 after acquiring an additional 394,496 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. raised its stake in shares of Enerflex by 39.5% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 1,349,730 shares of the company's stock valued at $10,432,000 after acquiring an additional 382,120 shares in the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Enerflex Trading Down 0.4%

Shares of EFXT stock traded down $0.04 on Wednesday, reaching $9.77. 208,307 shares of the stock were exchanged, compared to its average volume of 408,255. The stock has a market cap of $1.19 billion, a PE ratio of 9.39 and a beta of 2.00. Enerflex Ltd. has a one year low of $5.29 and a one year high of $10.61. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.19 and a quick ratio of 0.88. The stock has a 50 day moving average price of $8.40 and a 200 day moving average price of $7.77.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.42. Enerflex had a return on equity of 10.21% and a net margin of 5.54%.The business had revenue of $615.00 million during the quarter, compared to analysts' expectations of $555.24 million. Equities research analysts forecast that Enerflex Ltd. will post 0.25 EPS for the current fiscal year.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a dividend of $0.0375 per share. This is a boost from Enerflex's previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.5%. Enerflex's payout ratio is 10.58%.

Analysts Set New Price Targets

EFXT has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on Enerflex from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. CIBC decreased their price objective on Enerflex from $10.00 to $9.25 and set a "neutral" rating on the stock in a report on Friday, May 9th. Raymond James Financial restated an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Enerflex from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Enerflex currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.13.

Enerflex 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.