Plato Investment Management Ltd Trims Holdings in Enerflex Ltd. $EFXT

Key Points

• Plato Investment Management Ltd has reduced its stake in Enerflex Ltd by 67.5%, selling 51,897 shares, and now holds 24,936 shares valued at $195,000.
• Goldman Sachs Group Inc. significantly increased its holdings in Enerflex by 51.9%, while other firms like Jones Financial and NewEdge Advisors made dramatic increases, reflecting institutional interest in the stock.
• Enerflex recently reported earnings of $0.49 EPS, exceeding estimates, and announced a quarterly dividend increase to $0.0375 per share, resulting in a dividend yield of 1.4%.

Plato Investment Management Ltd cut its stake in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 67.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,936 shares of the company's stock after selling 51,897 shares during the quarter. Plato Investment Management Ltd's holdings in Enerflex were worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of EFXT. Connor Clark & Lunn Investment Management Ltd. lifted its position in Enerflex by 42.2% during 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. Millennium Management LLC lifted its holdings in shares of Enerflex by 351.0% in the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company's stock worth $8,747,000 after acquiring an additional 880,358 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Enerflex by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company's stock worth $17,031,000 after acquiring an additional 752,893 shares during the last quarter. TD Asset Management Inc lifted 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 worth $14,618,000 after acquiring an additional 708,153 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings 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 worth $6,564,000 after acquiring an additional 478,407 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EFXT has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on shares of Enerflex from $12.00 to $13.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Enerflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.13.

Enerflex Trading Down 0.8%

Enerflex stock traded down $0.09 during mid-day trading on Wednesday, reaching $10.69. 67,497 shares of the company traded hands, compared to its average volume of 405,908. 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 firm's 50 day moving average price is $9.11 and its 200 day moving average price is $7.91. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.27 and a beta of 2.01. Enerflex Ltd. has a 52-week low of $5.50 and a 52-week high of $10.85.

Enerflex (NYSE:EFXT - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $615.00 million for the quarter, compared to the consensus estimate of $555.24 million. Enerflex had a net margin of 5.54% and a return on equity of 10.21%. On average, analysts anticipate that Enerflex Ltd. will post 0.25 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 18th. This is an increase from Enerflex's previous quarterly dividend of $0.03. Enerflex's payout ratio is presently 10.58%.

About Enerflex

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.