Letko Brosseau & Associates Inc. Cuts Stake in Enerflex Ltd. (NYSE:EFXT)

Key Points

• Letko Brosseau & Associates Inc. reduced its stake in Enerflex Ltd. by 21.3%, selling 1,365,575 shares during the first quarter and now owns about 4.07% of the company.
• Several analysts have downgraded Enerflex's stock, with CIBC reducing their price target from $10.00 to $9.25, while Royal Bank Of Canada lowered it from $14.00 to $12.00.
• Enerflex has declared a dividend of $0.0375 with a yield of 1.51%, paid to shareholders of record on May 22nd.

Letko Brosseau & Associates Inc. cut its holdings in Enerflex Ltd. (NYSE:EFXT - Free Report) by 21.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,049,686 shares of the company's stock after selling 1,365,575 shares during the period. Letko Brosseau & Associates Inc. owned 4.07% of Enerflex worth $39,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EFXT. TD Waterhouse Canada Inc. increased its holdings in Enerflex by 8.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 17,522 shares of the company's stock worth $173,000 after acquiring an additional 1,404 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Enerflex by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 63,885 shares of the company's stock worth $642,000 after purchasing an additional 2,828 shares during the period. Bank of Nova Scotia increased its stake in shares of 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 purchasing an additional 4,258 shares in the last quarter. Barclays PLC increased its stake in shares of Enerflex by 20.3% in the fourth quarter. Barclays PLC now owns 31,481 shares of the company's stock worth $314,000 after purchasing an additional 5,312 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Enerflex by 21.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,096 shares of the company's stock valued at $302,000 after purchasing an additional 6,793 shares during the period. Hedge funds and other institutional investors own 46.47% of the company's stock.

Enerflex Trading Down 2.2%

Shares of NYSE EFXT traded down $0.18 during mid-day trading on Friday, reaching $7.81. The company had a trading volume of 57,360 shares, compared to its average volume of 376,418. The stock has a market cap of $956.74 million, a price-to-earnings ratio of 13.21 and a beta of 2.00. Enerflex Ltd. has a 52 week low of $4.73 and a 52 week high of $10.61. The business's 50-day moving average is $7.79 and its 200-day moving average is $7.88. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 0.64.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.07. The company had revenue of $552.00 million for the quarter, compared to analysts' expectations of $583.59 million. Enerflex had a return on equity of 5.23% and a net margin of 3.18%. Equities analysts expect that Enerflex Ltd. will post 0.25 earnings per share for the current year.

Enerflex Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 22nd were issued a dividend of $0.0375 per share. This represents a yield of 151.0%. The ex-dividend date of this dividend was Wednesday, May 21st. Enerflex's dividend payout ratio (DPR) is presently 18.64%.

Analyst Upgrades and Downgrades

EFXT has been the subject of several recent analyst reports. CIBC dropped their price target on Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a research note on Friday, May 9th. Royal Bank Of Canada dropped their target price on shares of Enerflex from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of Enerflex from a "buy" rating to a "hold" rating in a report on Friday, June 27th.

Enerflex Profile

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.