Enerflex Ltd. (NYSE:EFXT) Position Cut by NewGen Asset Management Ltd

NewGen Asset Management Ltd cut its position in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 18.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 543,644 shares of the company's stock after selling 126,711 shares during the period. Enerflex makes up 2.7% of NewGen Asset Management Ltd's portfolio, making the stock its 12th largest holding. NewGen Asset Management Ltd owned about 0.44% of Enerflex worth $4,202,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EFXT. Toronto Dominion Bank bought a new position in shares of Enerflex during the 4th quarter worth approximately $208,000. Two Sigma Advisers LP increased its position in Enerflex by 74.4% during the fourth quarter. Two Sigma Advisers LP now owns 484,344 shares of the company's stock worth $4,819,000 after purchasing an additional 206,559 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Enerflex by 263.9% during the fourth quarter. Two Sigma Investments LP now owns 659,690 shares of the company's stock valued at $6,564,000 after acquiring an additional 478,407 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Enerflex by 1,158.8% in the fourth quarter. Millennium Management LLC now owns 250,786 shares of the company's stock valued at $2,495,000 after purchasing an additional 230,864 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of Enerflex during the 4th quarter worth approximately $82,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Enerflex Price Performance

Shares of Enerflex stock remained flat at $7.81 on Thursday. The stock had a trading volume of 242,970 shares, compared to its average volume of 304,959. The business's 50-day simple moving average is $6.95 and its 200-day simple moving average is $8.29. Enerflex Ltd. has a 12 month low of $4.73 and a 12 month high of $10.61. The firm has a market capitalization of $969.61 million, a PE ratio of -12.40 and a beta of 1.98. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79.

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. Enerflex had a negative return on equity of 1.25% and a negative net margin of 3.15%. The firm had revenue of $552.00 million for the quarter, compared to analysts' expectations of $583.59 million. Equities research analysts forecast that Enerflex Ltd. will post 0.25 EPS for the current year.

Enerflex Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 22nd were paid a $0.0375 dividend. This represents a yield of 1.51%. The ex-dividend date of this dividend was Wednesday, May 21st. Enerflex's payout ratio is 16.95%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. CIBC dropped their price objective on shares of 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 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.

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.