Enerflex Ltd. $EFXT is Hillsdale Investment Management Inc.'s 5th Largest Position

Key Points

• Hillsdale Investment Management cut its Enerflex stake by 18.2% in Q1, but EFXT remains its 5th-largest holding and still represents about 2.2% of its portfolio.
• Enerflex reported strong quarterly earnings of $0.35 per share, topping estimates, though revenue of $584 million came in below expectations.
• Wall Street sentiment is generally positive: analysts have a Moderate Buy consensus with an average price target of $36, while several firms recently raised targets or reiterated buy ratings.

Hillsdale Investment Management Inc. trimmed its stake in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 18.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,831,659 shares of the company's stock after selling 854,595 shares during the quarter. Enerflex accounts for about 2.2% of Hillsdale Investment Management Inc.'s holdings, making the stock its 5th largest position. Hillsdale Investment Management Inc. owned about 3.14% of Enerflex worth $80,134,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in Enerflex by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 4,878,942 shares of the company's stock valued at $76,327,000 after buying an additional 186,649 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Enerflex by 51.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company's stock worth $17,031,000 after buying an additional 752,893 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Enerflex by 31.8% in the fourth quarter. TD Asset Management Inc now owns 2,151,660 shares of the company's stock valued at $33,215,000 after acquiring an additional 518,639 shares during the period. Bank of Montreal Can lifted its stake in Enerflex by 11.8% in the 4th quarter. Bank of Montreal Can now owns 1,735,826 shares of the company's stock worth $26,761,000 after purchasing an additional 182,578 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Enerflex by 351.0% in the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company's stock worth $8,747,000 after purchasing an additional 880,358 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company's stock.

Enerflex Price Performance

EFXT stock opened at $23.83 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.89. Enerflex Ltd. has a one year low of $7.59 and a one year high of $29.15. The stock has a market cap of $2.91 billion, a PE ratio of 35.57 and a beta of 1.83. The firm has a 50 day simple moving average of $25.40 and a two-hundred day simple moving average of $21.70.

Enerflex (NYSE:EFXT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. Enerflex had a net margin of 3.19% and a return on equity of 14.53%. The firm had revenue of $584.00 million for the quarter, compared to analysts' expectations of $607.26 million. On average, analysts predict that Enerflex Ltd. will post 1.63 EPS for the current fiscal year.

Enerflex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were given a dividend of $0.0425 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. Enerflex's dividend payout ratio (DPR) is presently 19.40%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EFXT shares. Raymond James Financial boosted their price target on shares of Enerflex from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Thursday, May 28th. National Bank Financial upgraded Enerflex from a "sector perform" rating to an "outperform" rating in a research report on Thursday, May 7th. TD Securities reissued a "buy" rating on shares of Enerflex in a research note on Friday, May 8th. Canadian Imperial Bank of Commerce restated a "neutral" rating and set a $30.00 target price on shares of Enerflex in a research report on Friday. Finally, Royal Bank Of Canada upped their target price on Enerflex from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Enerflex Profile

Enerflex Ltd is a Calgary‐headquartered energy infrastructure company specializing in the design, fabrication, installation and aftermarket support of natural gas compression, processing, refrigeration and treatment equipment. Its product portfolio includes reciprocating and centrifugal compression systems, gas treating and refrigeration packages, fuel gas conditioning and liquid separation solutions. In addition to equipment sales, Enerflex delivers field services such as commissioning, maintenance, monitoring and parts supply to optimize asset performance throughout the lifecycle.

The company supports upstream, midstream and downstream energy customers through an integrated offering that spans engineering, procurement and construction (EPC) as well as modular fabrication.

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