Bank of America Corp DE Purchases New Position in Enerflex Ltd. $EFXT

Key Points

• Bank of America acquired 1.25 million Enerflex shares worth approximately $30.6 million, giving it a 1.02% stake. Institutional ownership of Enerflex totals 46.47%.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $35.17 price target, although some firms recently downgraded the stock, including Zacks Research to “strong sell.”
• Enerflex reported quarterly EPS of $0.25, below the $0.31 consensus estimate, while revenue of $582 million also missed expectations. The company pays an annualized dividend of $0.17 per share, yielding approximately 0.8%.

Bank of America Corp DE acquired a new position in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,247,201 shares of the company's stock, valued at approximately $30,569,000. Bank of America Corp DE owned about 1.02% of Enerflex at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its stake in Enerflex by 240.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 466,627 shares of the company's stock worth $9,763,000 after buying an additional 329,469 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Enerflex by 21.0% in the first quarter. Public Employees Retirement System of Ohio now owns 408,015 shares of the company's stock valued at $8,506,000 after acquiring an additional 70,818 shares during the period. Cibc World Market Inc. purchased a new stake in shares of Enerflex in the second quarter valued at $15,851,000. Tacita Capital Inc bought a new stake in shares of Enerflex in the 2nd quarter worth about $1,204,000. Finally, Man Group plc bought a new stake in shares of Enerflex in the 2nd quarter worth about $3,526,000. 46.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EFXT shares. Raymond James Financial increased their price objective on shares of Enerflex from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. Wall Street Zen cut Enerflex from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Royal Bank Of Canada increased their price target on Enerflex from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. Canadian Imperial Bank of Commerce set a $27.50 price target on Enerflex in a research note on Monday, August 10th. Finally, Zacks Research cut Enerflex from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Enerflex presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.17.

Enerflex Price Performance

Shares of EFXT stock opened at $22.40 on Wednesday. Enerflex Ltd. has a twelve month low of $10.57 and a twelve month high of $29.15. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 52.09 and a beta of 1.84. The stock has a fifty day simple moving average of $21.86 and a two-hundred day simple moving average of $23.22. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.06). The firm had revenue of $582.00 million for the quarter, compared to analysts' expectations of $606.78 million. Enerflex had a net margin of 2.06% and a return on equity of 11.76%. On average, analysts predict that Enerflex Ltd. will post 1.34 EPS for the current fiscal year.

Enerflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.0425 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.17 dividend on an annualized basis and a yield of 0.8%. Enerflex's dividend payout ratio (DPR) is 27.91%.

Enerflex Company Profile

Enerflex Ltd. NYSE: EFXT is an energy infrastructure company that designs, engineers, manufactures, and operates equipment and facilities used in the processing, compression, and treatment of natural gas. Its solutions support the development, transportation, and utilization of natural gas and other hydrocarbons across upstream, midstream, and downstream applications.

The company provides natural gas compression, gas processing and treating, refrigeration, power generation, and related equipment and services.

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