Enerflex Ltd. $EFXT Shares Sold by NewGen Asset Management Ltd

Key Points

• NewGen Asset Management trimmed its Enerflex stake by 6.4% in Q1, selling 50,000 shares but still holding 736,744 shares worth about $15.4 million. Enerflex remains its 4th-largest position.
• Enerflex beat earnings expectations in its latest quarter, reporting EPS of $0.35 versus the $0.27 consensus estimate. Revenue came in at $584 million, below analysts’ expectations.
• Analyst sentiment remains mostly positive, with a consensus rating of “Moderate Buy” and an average price target of $36.00. However, Zacks recently downgraded the stock to “hold,” and shares were down 1.6% in Tuesday trading.

NewGen Asset Management Ltd lessened its holdings in Enerflex Ltd. (NYSE:EFXT - Free Report) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 736,744 shares of the company's stock after selling 50,000 shares during the quarter. Enerflex makes up approximately 6.0% of NewGen Asset Management Ltd's investment portfolio, making the stock its 4th largest position. NewGen Asset Management Ltd owned 0.60% of Enerflex worth $15,413,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Neuberger Berman Group LLC lifted its stake in shares of Enerflex by 0.8% in the 4th quarter. Neuberger Berman Group LLC now owns 118,504 shares of the company's stock valued at $1,829,000 after purchasing an additional 883 shares during the period. Pictet Asset Management Holding SA increased its holdings in Enerflex by 4.4% in the first quarter. Pictet Asset Management Holding SA now owns 24,089 shares of the company's stock worth $502,000 after purchasing an additional 1,017 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Enerflex by 3.2% in the fourth quarter. NewEdge Advisors LLC now owns 33,744 shares of the company's stock valued at $521,000 after buying an additional 1,033 shares during the period. Russell Investments Group Ltd. lifted its stake in Enerflex by 0.7% in the third quarter. Russell Investments Group Ltd. now owns 157,255 shares of the company's stock valued at $1,696,000 after buying an additional 1,035 shares during the period. Finally, D Orazio & Associates Inc. boosted its holdings in shares of Enerflex by 9.6% during the 4th quarter. D Orazio & Associates Inc. now owns 12,690 shares of the company's stock worth $196,000 after buying an additional 1,110 shares in the last quarter. 46.47% of the stock is owned by institutional investors.

Enerflex Trading Down 1.6%

NYSE EFXT opened at $23.09 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. Enerflex Ltd. has a 52 week low of $7.59 and a 52 week high of $29.15. The business has a 50 day moving average price of $25.02 and a 200-day moving average price of $21.99. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 34.47 and a beta of 1.83.

Enerflex (NYSE:EFXT - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. Enerflex had a return on equity of 14.53% and a net margin of 3.19%.The company had revenue of $584.00 million for the quarter, compared to analysts' expectations of $607.26 million. As a group, equities analysts expect that Enerflex Ltd. will post 1.63 earnings per share for the current fiscal year.

Enerflex Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EFXT. BMO Capital Markets reiterated an "outperform" rating on shares of Enerflex in a research note on Friday, May 8th. Raymond James Financial increased their target price on shares of Enerflex from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th. Royal Bank Of Canada raised their price target on shares of Enerflex from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. Zacks Research downgraded shares of Enerflex from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce reissued a "neutral" rating and set a $30.00 price objective on shares of Enerflex in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

About Enerflex

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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