BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 119,815 Shares of Enerflex Ltd. $EFXT

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stock holdings in Enerflex Ltd. by 63.2% in the first quarter, now owning approximately 0.06% of the company worth $540,000.
• Several hedge funds have increased their positions in Enerflex, with Connor Clark & Lunn Investment Management Ltd. rising by 42.2% during the same period.
• The company has announced a quarterly dividend increase from $0.03 to $0.0375, representing an annualized dividend yield of 1.5%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 63.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,905 shares of the company's stock after selling 119,815 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.06% of Enerflex worth $540,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of EFXT. Lazard Asset Management LLC bought a new stake in Enerflex during the 4th quarter worth approximately $82,000. Bank of New York Mellon Corp bought a new stake in Enerflex during the 1st quarter worth approximately $130,000. Toronto Dominion Bank acquired a new position in Enerflex during the 4th quarter worth $208,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Enerflex by 21.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,096 shares of the company's stock worth $302,000 after buying an additional 6,793 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Enerflex by 205.7% during the 1st quarter. Quantbot Technologies LP now owns 39,116 shares of the company's stock worth $302,000 after buying an additional 26,319 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EFXT. CIBC reduced 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. Royal Bank Of Canada upped their price objective on Enerflex from $12.00 to $13.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wall Street Zen raised Enerflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Raymond James Financial reissued an "outperform" rating on shares of Enerflex in a research note on Friday, August 8th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Enerflex in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Enerflex currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.13.

Enerflex Trading Up 0.1%

Enerflex stock traded up $0.01 during mid-day trading on Friday, hitting $10.08. 361,679 shares of the company's stock were exchanged, compared to its average volume of 639,263. The firm has a market capitalization of $1.23 billion, a P/E ratio of 9.70 and a beta of 2.00. Enerflex Ltd. has a fifty-two week low of $5.29 and a fifty-two week high of $10.61. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.65. The company's 50 day simple moving average is $8.52 and its 200-day simple moving average is $7.78.

Enerflex (NYSE:EFXT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.07 by $0.42. The business had revenue of $615.00 million for the quarter, compared to the consensus estimate of $555.24 million. Enerflex had a return on equity of 10.21% and a net margin of 5.54%. On average, equities analysts anticipate that Enerflex Ltd. will post 0.25 earnings per share for the current year.

Enerflex Increases Dividend

The firm 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 represents a $0.15 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. This is a boost from Enerflex's previous quarterly dividend of $0.03. Enerflex's dividend payout ratio (DPR) is 10.58%.

Enerflex Company 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.