Legal & General Group Plc Purchases New Position in Enerflex Ltd. $EFXT

Key Points

• Legal & General Group Plc acquired 148,444 Enerflex shares worth approximately $3.64 million, representing about 0.12% of the company. Institutional investors collectively own 46.47% of Enerflex.
• Analyst sentiment remains broadly positive, with five Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with a $35.17 price target.
• Enerflex recently missed quarterly earnings and revenue estimates, reporting $0.25 EPS versus $0.31 expected and $582 million in revenue versus $606.78 million expected. The company also pays a quarterly dividend of $0.0425 per share, yielding about 0.8% annually.

Legal & General Group Plc bought a new stake 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 (SEC). The fund bought 148,444 shares of the company's stock, valued at approximately $3,644,000. Legal & General Group Plc owned about 0.12% of Enerflex at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in EFXT. Baron Wealth Management LLC raised its stake in shares of Enerflex by 2.5% in the second quarter. Baron Wealth Management LLC now owns 30,530 shares of the company's stock worth $748,000 after acquiring an additional 751 shares during the last quarter. Neuberger Berman Group LLC increased 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 buying an additional 883 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Enerflex by 4.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 24,089 shares of the company's stock valued at $502,000 after buying an additional 1,017 shares during the period. NewEdge Advisors LLC raised its position in shares of Enerflex by 3.2% during the fourth quarter. NewEdge Advisors LLC now owns 33,744 shares of the company's stock worth $521,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Enerflex by 0.7% during the third quarter. Russell Investments Group Ltd. now owns 157,255 shares of the company's stock valued at $1,696,000 after acquiring an additional 1,035 shares during the period. Institutional investors own 46.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EFXT. Zacks Research cut Enerflex from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Royal Bank Of Canada boosted their price target on shares of Enerflex from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th. BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a report on Friday, May 8th. TD Securities reaffirmed a "buy" rating on shares of Enerflex in a research note on Friday, May 8th. Finally, Weiss Ratings lowered shares of Enerflex from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 20th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Enerflex has an average rating of "Moderate Buy" and a consensus price target of $35.17.

Enerflex Price Performance

Shares of EFXT opened at $22.24 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19. The stock has a 50 day simple moving average of $22.17 and a 200 day simple moving average of $23.06. Enerflex Ltd. has a 52-week low of $9.81 and a 52-week high of $29.15. The firm has a market capitalization of $2.72 billion, a PE ratio of 51.72 and a beta of 1.84.

Enerflex (NYSE:EFXT - Get Free Report) last posted its earnings results 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 business had revenue of $582.00 million for the quarter, compared to the consensus estimate of $606.78 million. Enerflex had a return on equity of 11.76% and a net margin of 2.06%. Sell-side analysts predict that Enerflex Ltd. will post 1.34 EPS for the current fiscal year.

Enerflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 19th. Enerflex's dividend payout ratio (DPR) is presently 27.91%.

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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