TD Asset Management Inc Sells 206,889 Shares of Enerflex Ltd. $EFXT

Key Points

• TD Asset Management Inc reduced its ownership in Enerflex Ltd. by 10.9%, now holding approximately 1.37% of the company after selling 206,889 shares.
• Enerflex recently increased its quarterly dividend to $0.0375 per share, resulting in an annualized dividend yield of 1.4% and reflecting a positive change from the previous dividend of $0.03.
• Analysts have a consensus rating of "Moderate Buy" for Enerflex, with target price increases by firms like Royal Bank of Canada to $15.00 after adjustments based on recent performance.

TD Asset Management Inc reduced its stake in Enerflex Ltd. (NYSE:EFXT - Free Report) by 10.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,685,101 shares of the company's stock after selling 206,889 shares during the period. TD Asset Management Inc owned approximately 1.37% of Enerflex worth $13,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Enerflex by 42.2% in the 1st 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 period. Mackenzie Financial Corp grew its stake in shares of 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 purchasing an additional 394,496 shares during the period. Goldman Sachs Group Inc. grew its stake 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 valued at $17,031,000 after purchasing an additional 752,893 shares during the period. Acadian Asset Management LLC grew its stake in shares of Enerflex by 61.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,606,125 shares of the company's stock valued at $12,395,000 after purchasing an additional 612,549 shares during the period. Finally, PCJ Investment Counsel Ltd. boosted its holdings in shares of Enerflex by 39.5% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 1,349,730 shares of the company's stock worth $10,432,000 after acquiring an additional 382,120 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors.

Enerflex Stock Up 0.2%

NYSE:EFXT opened at $10.76 on Friday. The stock's fifty day moving average price is $10.44 and its two-hundred day moving average price is $8.46. Enerflex Ltd. has a 52-week low of $6.18 and a 52-week high of $11.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 1.19. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 10.34 and a beta of 2.01.

Enerflex (NYSE:EFXT - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $555.24 million. On average, analysts anticipate that Enerflex Ltd. will post 0.25 EPS for the current year.

Enerflex Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EFXT. Zacks Research raised Enerflex from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. Wall Street Zen raised Enerflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Enerflex in a report on Wednesday, October 8th. Raymond James Financial reissued an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Finally, Royal Bank Of Canada boosted their target price on Enerflex from $13.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $12.13.

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.

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