Bank of America Corp DE Boosts Stake in Enerflex Ltd. (NYSE:EFXT)

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

Several other hedge funds also recently made changes to their positions in the stock. Jane Street Group LLC grew its position in shares of 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 purchasing an additional 253,163 shares in the last quarter. PDT Partners LLC purchased a new position in Enerflex during the fourth quarter worth about $445,000. The Manufacturers Life Insurance Company grew its position in Enerflex by 16.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 216,139 shares of the company's stock worth $2,155,000 after buying an additional 31,187 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Enerflex by 8.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 17,522 shares of the company's stock worth $173,000 after buying an additional 1,404 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Enerflex by 75.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 309,309 shares of the company's stock worth $3,078,000 after buying an additional 132,990 shares in the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EFXT has been the subject of several recent analyst reports. Royal Bank of Canada reduced their target price on Enerflex from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. CIBC reduced their target price on Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a research report on Friday, May 9th.

Enerflex Price Performance

EFXT stock traded down $0.14 during mid-day trading on Friday, hitting $7.04. 148,780 shares of the stock were exchanged, compared to its average volume of 299,035. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. The business has a fifty day moving average price of $6.94 and a 200 day moving average price of $8.37. Enerflex Ltd. has a 12 month low of $4.60 and a 12 month high of $10.61. The stock has a market capitalization of $874.02 million, a price-to-earnings ratio of -11.17 and a beta of 2.02.

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

Enerflex Announces Dividend

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

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.