Royal Bank of Canada Sells 685,059 Shares of Enerflex Ltd. (NYSE:EFXT)

Royal Bank of Canada trimmed its holdings in Enerflex Ltd. (NYSE:EFXT - Free Report) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,124,387 shares of the company's stock after selling 685,059 shares during the period. Royal Bank of Canada owned about 5.74% of Enerflex worth $70,887,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Millennium Management LLC grew its stake in Enerflex by 1,158.8% during the fourth quarter. Millennium Management LLC now owns 250,786 shares of the company's stock valued at $2,495,000 after acquiring an additional 230,864 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Enerflex during the 4th quarter valued at about $82,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Enerflex during the fourth quarter valued at about $401,000. Cubist Systematic Strategies LLC bought a new stake in shares of Enerflex in the fourth quarter worth about $546,000. Finally, Bank of America Corp DE lifted its position in shares of Enerflex by 1,046.0% in the fourth quarter. Bank of America Corp DE now owns 391,211 shares of the company's stock worth $3,893,000 after buying an additional 357,073 shares in the last quarter. Institutional investors own 46.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on EFXT shares. Royal Bank of Canada cut their price target on Enerflex from $14.00 to $12.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. CIBC cut their target price on shares of Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a report on Friday, May 9th.

Enerflex Price Performance

Shares of NYSE EFXT traded up $0.21 during mid-day trading on Monday, hitting $7.06. 199,443 shares of the company's stock traded hands, compared to its average volume of 296,933. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. Enerflex Ltd. has a 1 year low of $4.60 and a 1 year high of $10.61. The company's 50-day moving average is $6.99 and its two-hundred day moving average is $8.38. The company has a market capitalization of $875.88 million, a P/E ratio of -11.20 and a beta of 2.02.

Enerflex (NYSE:EFXT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.07. The company had revenue of $552.00 million for the quarter, compared to analysts' expectations of $583.59 million. Enerflex had a negative return on equity of 1.25% and a negative net margin of 3.15%. On average, equities analysts anticipate that Enerflex Ltd. will post 0.25 EPS for the current fiscal year.

Enerflex Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, June 3rd. Investors of record on Thursday, May 22nd will be issued a dividend of $0.0375 per share. The ex-dividend date is Wednesday, May 21st. This represents a yield of 1.51%. Enerflex's payout ratio is presently 16.95%.

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.