Hennessy Advisors Inc. Buys New Shares in Enerflex Ltd. $EFXT

Key Points

• Hennessy Advisors acquired 346,800 Enerflex shares worth approximately $8.5 million in the second quarter, giving it a 0.28% stake. Institutional investors collectively own 46.47% of the company.
• Enerflex shares were down 3.8%, opening at $20.01, after the company reported quarterly EPS of $0.25 and revenue of $582 million—both below analyst expectations.
• The company declared a quarterly dividend of $0.0425 per share, equivalent to $0.17 annually and a 0.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $35.17.

Hennessy Advisors Inc. purchased a new position in Enerflex Ltd. (NYSE:EFXT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 346,800 shares of the company's stock, valued at approximately $8,500,000. Hennessy Advisors Inc. owned approximately 0.28% of Enerflex as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in shares of Enerflex in the second quarter valued at about $4,219,000. Bank of America Corp DE purchased a new stake in shares of Enerflex during the second quarter worth about $30,569,000. Man Group plc bought a new stake in Enerflex during the 2nd quarter valued at approximately $3,526,000. PDT Partners LLC bought a new stake in Enerflex during the 2nd quarter valued at approximately $893,000. Finally, Legal & General Group Plc purchased a new position in Enerflex in the 2nd quarter worth approximately $3,644,000. 46.47% of the stock is owned by institutional investors.

Enerflex Stock Down 3.8%

Shares of NYSE:EFXT opened at $20.01 on Friday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 46.53 and a beta of 1.86. Enerflex Ltd. has a 12 month low of $9.81 and a 12 month high of $29.15. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $22.53 and a 200 day moving average price of $22.96.

Enerflex (NYSE:EFXT - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.06). The company 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%. As a group, equities research analysts predict that Enerflex Ltd. will post 1.34 earnings per share for the current year.

Enerflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a $0.0425 dividend. The ex-dividend date is 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 currently 27.91%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce set a $27.50 price objective on shares of Enerflex in a report on Monday, August 10th. Weiss Ratings downgraded shares of Enerflex from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 20th. National Bank Financial upgraded shares of Enerflex from a "sector perform" rating to an "outperform" rating in a research report on Thursday, May 7th. Royal Bank Of Canada raised their target price on shares of Enerflex from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Finally, Zacks Research cut shares of Enerflex from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Enerflex has a consensus rating of "Moderate Buy" and a consensus price target of $35.17.

Enerflex Company 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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