Enerflex Ltd. (NYSE:EFXT) is PCJ Investment Counsel Ltd.'s 4th Largest Position

Key Points

• PCJ Investment Counsel Ltd. increased its holdings in Enerflex Ltd. by 39.5% in Q1, owning 1,349,730 shares after acquiring an additional 382,120 shares.
• The company recently declared a quarterly dividend of $0.0375, marking an increase from the previous $0.03 dividend, which results in an annual yield of 1.7%.
• Analysts have mixed ratings on Enerflex, with Wall Street Zen downgrading the stock from "buy" to "hold" and varying target prices set by other research firms, with estimates ranging from $12.00 to $9.25.

PCJ Investment Counsel Ltd. raised its holdings in Enerflex Ltd. (NYSE:EFXT - Free Report) by 39.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,349,730 shares of the company's stock after buying an additional 382,120 shares during the period. Enerflex makes up approximately 4.1% of PCJ Investment Counsel Ltd.'s portfolio, making the stock its 4th largest position. PCJ Investment Counsel Ltd. owned 1.09% of Enerflex worth $10,432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of Enerflex by 1,046.0% during the fourth quarter. Bank of America Corp DE now owns 391,211 shares of the company's stock worth $3,893,000 after purchasing an additional 357,073 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Enerflex during the fourth quarter worth $299,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Enerflex during the fourth quarter worth $401,000. Jupiter Asset Management Ltd. acquired a new position in shares of Enerflex during the first quarter worth $348,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Enerflex by 28.0% during the fourth quarter. JPMorgan Chase & Co. now owns 99,550 shares of the company's stock worth $991,000 after purchasing an additional 21,801 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EFXT. Raymond James Financial reiterated an "outperform" rating on shares of Enerflex in a research note on Friday. BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a research note on Friday. Wall Street Zen upgraded shares of Enerflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday. CIBC decreased their price objective on shares of Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Royal Bank Of Canada upped their price objective on shares of Enerflex from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.13.

Enerflex Stock Performance

NYSE EFXT traded up $0.22 during trading hours on Friday, hitting $9.11. The company had a trading volume of 755,768 shares, compared to its average volume of 321,977. The business has a 50 day moving average of $7.93 and a 200-day moving average of $7.77. Enerflex Ltd. has a 1-year low of $5.29 and a 1-year 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 company has a market cap of $1.12 billion, a PE ratio of 8.76 and a beta of 2.00.

Enerflex (NYSE:EFXT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.49 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 10.37%. The business had revenue of $615.00 million during the quarter, compared to analysts' expectations of $555.24 million. As a group, equities research analysts expect that Enerflex Ltd. will post 0.25 EPS for the current year.

Enerflex Increases Dividend

The company 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. This is a boost from Enerflex's previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 1.6%. Enerflex's dividend payout ratio is currently 18.64%.

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.