Canoe Financial LP Has $49.23 Million Holdings in Enerflex Ltd. $EFXT

Key Points

• Canoe Financial LP reduced its stake in Enerflex Ltd. by 1.0%, selling 62,896 shares and retaining approximately 5.06% of the company, valued at $49.23 million as of the latest disclosure.
• Several institutional investors, including Goldman Sachs and TD Asset Management, significantly increased their positions in Enerflex during the first quarter, reflecting growing confidence in the stock.
• Enerflex's recent earnings report exceeded expectations, with an EPS of $0.49 compared to the forecasted $0.07, and the company announced a boosted quarterly dividend, now $0.0375 per share, indicating strong financial health.

Canoe Financial LP decreased its holdings in Enerflex Ltd. (NYSE:EFXT - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,231,212 shares of the company's stock after selling 62,896 shares during the period. Canoe Financial LP owned about 5.06% of Enerflex worth $49,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EFXT. Lazard Asset Management LLC purchased a new stake in Enerflex in the fourth quarter valued at $82,000. Baron Wealth Management LLC raised its holdings in Enerflex by 31.7% during the second quarter. Baron Wealth Management LLC now owns 15,215 shares of the company's stock worth $120,000 after purchasing an additional 3,666 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Enerflex during the first quarter worth about $130,000. NewEdge Advisors LLC raised its holdings in Enerflex by 984.3% during the first quarter. NewEdge Advisors LLC now owns 22,791 shares of the company's stock worth $176,000 after purchasing an additional 20,689 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in Enerflex in the first quarter valued at about $192,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Enerflex Stock Up 1.8%

Shares of NYSE EFXT traded up $0.20 during midday trading on Tuesday, reaching $11.13. The company's stock had a trading volume of 181,766 shares, compared to its average volume of 406,340. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. Enerflex Ltd. has a fifty-two week low of $5.82 and a fifty-two week high of $11.27. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 10.70 and a beta of 2.01. The stock has a 50 day simple moving average of $9.34 and a 200-day simple moving average of $8.01.

Enerflex (NYSE:EFXT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.42. Enerflex had a net margin of 5.54% and a return on equity of 10.21%. The business had revenue of $615.00 million during the quarter, compared to analysts' expectations of $555.24 million. Equities research analysts predict that Enerflex Ltd. will post 0.25 earnings per share for the current year.

Enerflex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.0375 dividend. The ex-dividend date of this dividend was Monday, August 18th. This is a boost from Enerflex's previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.3%. Enerflex's dividend payout ratio (DPR) is presently 10.58%.

Analyst Ratings Changes

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

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.