Magnetar Financial LLC Purchases New Shares in Enerflex Ltd. $EFXT

Key Points

• Magnetar Financial LLC has acquired 24,800 shares of Enerflex Ltd., valued at approximately $192,000, marking a notable investment during the first quarter.
• Analysts have mixed ratings on Enerflex, with BMO Capital Markets and Raymond James maintaining an "outperform" rating, while CIBC adjusted its price target down from $10.00 to $9.25.
• Enerflex has recently increased its quarterly dividend, raising it from $0.03 to $0.0375 per share, reflecting a new annual yield of 1.5%.

Magnetar Financial LLC acquired a new position in shares of 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 fund acquired 24,800 shares of the company's stock, valued at approximately $192,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Enerflex by 1,046.0% in the 4th quarter. Bank of America Corp DE now owns 391,211 shares of the company's stock worth $3,893,000 after buying an additional 357,073 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Enerflex in the 1st quarter worth approximately $348,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Enerflex in the 4th quarter worth approximately $401,000. Lazard Asset Management LLC purchased a new position in shares of Enerflex in the 4th quarter worth approximately $82,000. Finally, Millennium Management LLC boosted its stake in shares of Enerflex by 1,158.8% in the 4th quarter. Millennium Management LLC now owns 250,786 shares of the company's stock worth $2,495,000 after buying an additional 230,864 shares during the last quarter. 46.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EFXT. Raymond James Financial restated an "outperform" rating on shares of Enerflex in a research note on Friday, August 8th. Wall Street Zen raised shares of Enerflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. CIBC reduced their target price on Enerflex from $10.00 to $9.25 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Royal Bank Of Canada increased their target price on Enerflex from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Enerflex currently has a consensus rating of "Moderate Buy" and an average price target of $11.13.

Enerflex Price Performance

Shares of EFXT traded down $0.28 during trading hours on Friday, reaching $10.02. 281,714 shares of the stock traded hands, compared to its average volume of 579,880. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. Enerflex Ltd. has a 52-week low of $5.29 and a 52-week high of $10.61. The company's 50-day moving average price is $8.76 and its two-hundred day moving average price is $7.82. The company has a market cap of $1.22 billion, a P/E ratio of 9.63 and a beta of 2.01.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.42. Enerflex had a net margin of 5.54% and a return on equity of 10.21%. The company had revenue of $615.00 million for the quarter, compared to the consensus estimate of $555.24 million. On average, analysts anticipate that Enerflex Ltd. will post 0.25 earnings per share for the current year.

Enerflex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. This is a boost from Enerflex's previous quarterly dividend of $0.03. Enerflex's dividend payout ratio is currently 10.58%.

Enerflex Company 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.