Enerflex Ltd. (NYSE:EFXT) Stake Raised by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in Enerflex Ltd. (NYSE:EFXT - Free Report) by 1,046.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 391,211 shares of the company's stock after buying an additional 357,073 shares during the period. Bank of America Corp DE owned approximately 0.32% of Enerflex worth $3,893,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Jane Street Group LLC raised its holdings in Enerflex by 586.3% in the fourth quarter. Jane Street Group LLC now owns 296,342 shares of the company's stock valued at $2,949,000 after buying an additional 253,163 shares during the period. PDT Partners LLC purchased a new position in Enerflex in the fourth quarter valued at approximately $445,000. The Manufacturers Life Insurance Company raised its stake in shares of Enerflex by 16.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 216,139 shares of the company's stock valued at $2,155,000 after purchasing an additional 31,187 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Enerflex by 8.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 17,522 shares of the company's stock valued at $173,000 after purchasing an additional 1,404 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Enerflex by 75.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 309,309 shares of the company's stock valued at $3,078,000 after purchasing an additional 132,990 shares during the period. Hedge funds and other institutional investors own 46.47% of the company's stock.

Enerflex Stock Performance

Enerflex stock traded up $0.32 during mid-day trading on Tuesday, reaching $7.50. The company's stock had a trading volume of 318,094 shares, compared to its average volume of 299,323. The firm has a market cap of $931.62 million, a price-to-earnings ratio of -11.91 and a beta of 2.02. The business has a 50 day moving average price of $6.92 and a 200-day moving average price of $8.35. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. Enerflex Ltd. has a twelve month low of $4.60 and a twelve month high of $10.61.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07. Enerflex had a negative net margin of 3.15% and a negative return on equity of 1.25%. The company had revenue of $552.00 million during the quarter, compared to the consensus estimate of $583.59 million. Sell-side analysts predict that Enerflex Ltd. will post 0.25 EPS for the current fiscal year.

Enerflex Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, June 3rd. Investors of record on Thursday, May 22nd will be paid a dividend of $0.0375 per share. This represents a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, May 21st. Enerflex's dividend payout ratio is currently 16.95%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EFXT shares. CIBC dropped their price objective on shares of Enerflex from $10.00 to $9.25 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Royal Bank of Canada dropped their price objective on shares of Enerflex from $14.00 to $12.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th.

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.