Jupiter Asset Management Ltd. Buys New Position in Enerflex Ltd. (NYSE:EFXT)

Key Points

• Jupiter Asset Management Ltd. has acquired a new position in Enerflex Ltd. (NYSE:EFXT), purchasing 45,101 shares valued at approximately $348,000 in the first quarter.
• Several other hedge funds also increased their stakes in Enerflex, with TD Asset Management Inc. leading the charge by raising its position by 59.8%.
• Enerflex reported better-than-expected earnings of $0.19 per share, outperforming analysts' consensus estimates of $0.12, despite revenues falling short of expectations.

Jupiter Asset Management Ltd. acquired a new stake in Enerflex Ltd. (NYSE:EFXT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,101 shares of the company's stock, valued at approximately $348,000.

Other large investors also recently modified their holdings of the company. TD Waterhouse Canada Inc. raised its position in shares of Enerflex by 8.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 17,522 shares of the company's stock worth $173,000 after purchasing an additional 1,404 shares during the period. Geode Capital Management LLC grew its stake in Enerflex by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 63,885 shares of the company's stock worth $642,000 after buying an additional 2,828 shares during the last quarter. Bank of Nova Scotia increased its position in Enerflex by 4.9% in the fourth quarter. Bank of Nova Scotia now owns 90,717 shares of the company's stock worth $903,000 after buying an additional 4,258 shares during the period. Barclays PLC increased its position in Enerflex by 20.3% in the fourth quarter. Barclays PLC now owns 31,481 shares of the company's stock worth $314,000 after buying an additional 5,312 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Enerflex by 21.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,096 shares of the company's stock valued at $302,000 after buying an additional 6,793 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Enerflex Stock Performance

Shares of NYSE EFXT traded up $0.10 during midday trading on Friday, reaching $8.99. 174,871 shares of the company traded hands, compared to its average volume of 381,909. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 15.23 and a beta of 2.00. The stock has a 50-day moving average price of $7.89 and a 200 day moving average price of $7.80. Enerflex Ltd. has a 52 week low of $5.29 and a 52 week high of $10.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 0.83.

Enerflex (NYSE:EFXT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.42. The company had revenue of $615.00 million for the quarter, compared to the consensus estimate of $555.24 million. Enerflex had a net margin of 3.18% and a return on equity of 5.23%. Sell-side analysts anticipate that Enerflex Ltd. will post 0.25 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 1.7%. This is an increase from Enerflex's previous quarterly dividend of $0.03. Enerflex's dividend payout ratio is 16.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EFXT shares. BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a research report on Friday. Royal Bank Of Canada upped their target price on shares of Enerflex from $12.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday. Wall Street Zen lowered shares of Enerflex from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, CIBC reduced their price objective on Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a research report on Friday, May 9th.

About Enerflex

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.