Mackenzie Financial Corp Boosts Stock Position in Enerflex Ltd. (NYSE:EFXT)

Key Points

• Mackenzie Financial Corp increased its stake in Enerflex Ltd. by 8.6%, owning approximately 4.01% of the company, which is valued at $38.46 million.
• Enerflex reported earnings of $0.19 per share for the last quarter, exceeding analysts' expectations, although its revenue of $552 million fell short of estimates.
• The company recently declared a dividend of $0.0375 per share, representing a yield of 1.51% with a payout ratio of 18.64%.

Mackenzie Financial Corp grew its stake in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,977,243 shares of the company's stock after buying an additional 394,496 shares during the period. Mackenzie Financial Corp owned 4.01% of Enerflex worth $38,459,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new stake in Enerflex during the 4th quarter valued at $82,000. Bank of New York Mellon Corp purchased a new stake in Enerflex in the first quarter worth $130,000. TD Waterhouse Canada Inc. increased its stake in Enerflex by 8.7% in the fourth 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. ExodusPoint Capital Management LP purchased a new stake in Enerflex in the fourth quarter worth $185,000. Finally, Scotia Capital Inc. purchased a new stake in Enerflex in the fourth quarter worth $206,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Enerflex Stock Down 2.6%

EFXT traded down $0.21 on Friday, hitting $7.78. The company had a trading volume of 328,326 shares, compared to its average volume of 378,642. The stock has a fifty day moving average price of $7.79 and a 200-day moving average price of $7.88. Enerflex Ltd. has a 12-month low of $4.73 and a 12-month high of $10.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.83 and a current ratio of 1.12. The stock has a market capitalization of $953.04 million, a price-to-earnings ratio of 13.18 and a beta of 2.00.

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

Enerflex Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a dividend yield of 151.0%. Enerflex's payout ratio is 16.95%.

Analyst Ratings Changes

A number of research firms have recently issued reports on EFXT. Royal Bank Of Canada dropped their price target on Enerflex from $14.00 to $12.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. CIBC dropped their price target on Enerflex from $10.00 to $9.25 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Wall Street Zen downgraded Enerflex from a "buy" rating to a "hold" rating in a research 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.