Enerflex Ltd. $EFXT Stake Decreased by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its stake in Enerflex Ltd. by 4.1%, selling 295,503 shares during the first quarter, while still holding approximately 5.50% of the company valued at around $52.8 million.
• Analysts have varying price targets for Enerflex, with CIBC lowering its target from $10.00 to $9.25, while Royal Bank of Canada increased its target from $12.00 to $13.00, maintaining an "outperform" rating.
• Enerflex recently announced an increase in its quarterly dividend to $0.0375 per share, up from $0.03, reflecting a 1.5% yield for investors.

Royal Bank of Canada cut its stake in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,828,884 shares of the company's stock after selling 295,503 shares during the period. Royal Bank of Canada owned approximately 5.50% of Enerflex worth $52,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EFXT. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 worth $48,555,000 after purchasing an additional 1,863,470 shares in the last quarter. TD Asset Management Inc increased its stake in Enerflex by 59.8% during the 1st quarter. TD Asset Management Inc now owns 1,891,990 shares of the company's stock worth $14,618,000 after buying an additional 708,153 shares during the period. Two Sigma Investments LP lifted its holdings in 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 buying an additional 478,407 shares in the last quarter. Mackenzie Financial Corp boosted its position in 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. boosted its position in Enerflex by 39.5% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 1,349,730 shares of the company's stock valued at $10,432,000 after buying an additional 382,120 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company's stock.

Enerflex Stock Performance

Shares of EFXT traded up $0.20 during mid-day trading on Thursday, hitting $10.50. The stock had a trading volume of 387,787 shares, compared to its average volume of 492,762. Enerflex Ltd. has a fifty-two week low of $5.30 and a fifty-two week high of $10.61. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.28 billion, a PE ratio of 10.10 and a beta of 2.01. The company's fifty day simple moving average is $8.94 and its two-hundred day simple moving average is $7.85.

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

Enerflex Increases Dividend

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

Wall Street Analysts Forecast Growth

EFXT has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Enerflex 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. Royal Bank Of Canada raised their price target on shares of Enerflex from $12.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $11.13.

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.