170,202 Shares in Enerflex Ltd. $EFXT Acquired by Oliver Luxxe Assets LLC

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

Other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in Enerflex during the fourth quarter worth $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 position 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 buying an additional 1,404 shares during the last quarter. Toronto Dominion Bank purchased a new stake in Enerflex in the fourth quarter worth $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Enerflex by 21.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,096 shares of the company's stock worth $302,000 after buying an additional 6,793 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors.

Enerflex Price Performance

EFXT stock traded down $0.04 during mid-day trading on Friday, hitting $10.04. 130,833 shares of the stock were exchanged, compared to its average volume of 408,980. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.19 and a quick ratio of 0.88. The business has a fifty day moving average price of $8.48 and a 200 day moving average price of $7.78. Enerflex Ltd. has a 12 month low of $5.29 and a 12 month high of $10.61. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.65 and a beta of 2.00.

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

Enerflex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a dividend of $0.0375 per share. The ex-dividend date is Monday, August 18th. This represents a $0.15 dividend on an annualized basis and a yield of 1.5%. This is a boost from Enerflex's previous quarterly dividend of $0.03. Enerflex's dividend payout ratio (DPR) is presently 10.58%.

Analyst Upgrades and Downgrades

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

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.