Oliver Luxxe Assets LLC Acquires Shares of 170,202 Enerflex Ltd. $EFXT

Key Points

• Oliver Luxxe Assets LLC has acquired a new position in Enerflex Ltd. by purchasing 170,202 shares valued at approximately $1.32 million.
• Several institutional investors have increased their stakes in Enerflex, with Connor Clark & Lunn Investment Management boosting its position by 42.2% in the first quarter.
• Enerflex announced a quarterly dividend increase to $0.0375 per share, representing a 1.5% yield, up from the previous dividend of $0.03.

Oliver Luxxe Assets LLC acquired a new stake in Enerflex Ltd. (NYSE:EFXT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 170,202 shares of the company's stock, valued at approximately $1,315,000. Oliver Luxxe Assets LLC owned about 0.14% of Enerflex as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Enerflex by 42.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,282,450 shares of the company's stock valued at $48,555,000 after purchasing an additional 1,863,470 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Enerflex by 59.8% in the 1st quarter. TD Asset Management Inc now owns 1,891,990 shares of the company's stock valued at $14,618,000 after buying an additional 708,153 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Enerflex by 263.9% in the 4th quarter. Two Sigma Investments LP now owns 659,690 shares of the company's stock valued at $6,564,000 after buying an additional 478,407 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Enerflex by 8.6% in the 1st quarter. Mackenzie Financial Corp now owns 4,977,243 shares of the company's stock valued at $38,459,000 after buying an additional 394,496 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. raised its stake in Enerflex by 39.5% during the 1st quarter. PCJ Investment Counsel Ltd. now owns 1,349,730 shares of the company's stock worth $10,432,000 after acquiring an additional 382,120 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company's stock.

Analyst Upgrades and Downgrades

EFXT has been the topic of several research reports. Raymond James Financial reaffirmed an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. BMO Capital Markets reissued an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Royal Bank Of Canada lifted their price target on Enerflex from $12.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. CIBC reduced their price objective on Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Enerflex from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.13.

Enerflex Stock Performance

Enerflex stock traded up $0.02 during mid-day trading on Tuesday, reaching $9.79. 292,984 shares of the company were exchanged, compared to its average volume of 606,660. The firm's 50-day simple moving average is $8.40 and its two-hundred day simple moving average is $7.77. Enerflex Ltd. has a twelve month low of $5.29 and a twelve month high of $10.61. The firm has a market cap of $1.20 billion, a PE ratio of 9.41 and a beta of 2.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 1.19.

Enerflex (NYSE:EFXT - Get Free Report) last released its 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 return on equity of 10.21% and a net margin of 5.54%.The business had revenue of $615.00 million for the quarter, compared to analyst estimates of $555.24 million. Equities analysts predict that Enerflex Ltd. will post 0.25 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 1.5%. This is a boost from Enerflex's previous quarterly dividend of $0.03. Enerflex's dividend payout ratio (DPR) is 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.