Neuberger Berman Group LLC Invests $517,000 in Enerflex Ltd. $EFXT

Key Points

• Neuberger Berman Group LLC acquired 66,888 shares of Enerflex Ltd. (NYSE:EFXT) in Q1, valued at approximately $517,000, bringing its ownership to 0.05% of the company.
• Enerflex reported a strong earnings performance with $0.49 earnings per share, significantly exceeding analysts' expectations of $0.07, along with a revenue of $615 million in its last quarterly results.
• The company has increased its quarterly dividend to $0.0375, offering a 1.6% dividend yield, up from $0.03, with a payout ratio of 10.58%.

Neuberger Berman Group LLC purchased a new stake in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 66,888 shares of the company's stock, valued at approximately $517,000. Neuberger Berman Group LLC owned 0.05% of Enerflex as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of EFXT. Lazard Asset Management LLC acquired a new position in shares of Enerflex during the 4th quarter valued at $82,000. Bank of New York Mellon Corp acquired a new position in shares of Enerflex in the 1st quarter worth $130,000. TD Waterhouse Canada Inc. grew its holdings in shares of Enerflex by 8.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 17,522 shares of the company's stock worth $173,000 after acquiring an additional 1,404 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Enerflex in the 4th quarter worth $208,000. Finally, XTX Topco Ltd acquired a new position in shares of Enerflex in the 4th quarter worth $299,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Enerflex Stock Up 1.6%

Shares of NYSE:EFXT traded up $0.1550 on Thursday, reaching $9.6550. The company had a trading volume of 128,685 shares, compared to its average volume of 407,669. Enerflex Ltd. has a twelve month low of $5.29 and a twelve month high of $10.61. The stock has a 50-day moving average price of $8.25 and a 200 day moving average price of $7.77. The stock has a market capitalization of $1.18 billion, a P/E ratio of 9.29 and a beta of 2.00. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.65.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.49 earnings per share 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 company had revenue of $615.00 million during the quarter, compared to analysts' expectations of $555.24 million. On average, equities analysts expect that Enerflex Ltd. will post 0.25 EPS for the current year.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Enerflex's previous quarterly dividend of $0.03. Enerflex's payout ratio is currently 10.58%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EFXT shares. BMO Capital Markets reiterated an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Raymond James Financial reiterated an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Royal Bank Of Canada lifted their price target on Enerflex from $12.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, August 8th. CIBC lowered their price target on Enerflex from $10.00 to $9.25 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen upgraded Enerflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.13.

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.