The Manufacturers Life Insurance Company Buys Shares of 492,959 Enerflex Ltd. $EFXT

Key Points

• The Manufacturers Life Insurance Company purchased 492,959 Enerflex shares worth approximately $12.1 million, acquiring a 0.40% stake. Institutional investors and hedge funds collectively own 46.47% of the company.
• Enerflex missed quarterly expectations, reporting $0.25 in earnings per share versus the $0.31 consensus estimate and revenue of $582 million versus $606.78 million expected.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $35.17, while the company declared a quarterly dividend of $0.0425 per share.

The Manufacturers Life Insurance Company bought a new position in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 492,959 shares of the company's stock, valued at approximately $12,082,000. The Manufacturers Life Insurance Company owned about 0.40% of Enerflex as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Enerflex during the second quarter worth $330,515,000. Mackenzie Financial Corp boosted its position in shares of Enerflex by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 4,878,942 shares of the company's stock valued at $76,327,000 after purchasing an additional 186,649 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Enerflex by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company's stock worth $17,031,000 after purchasing an additional 752,893 shares during the period. TD Asset Management Inc grew its stake in Enerflex by 31.8% during the fourth quarter. TD Asset Management Inc now owns 2,151,660 shares of the company's stock worth $33,215,000 after purchasing an additional 518,639 shares during the period. Finally, Bank of Montreal Can increased its holdings in Enerflex by 11.8% in the fourth quarter. Bank of Montreal Can now owns 1,735,826 shares of the company's stock worth $26,761,000 after purchasing an additional 182,578 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company's stock.

Enerflex Stock Performance

Shares of EFXT opened at $20.01 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19. The stock has a 50 day moving average price of $22.53 and a two-hundred day moving average price of $22.96. The firm has a market capitalization of $2.44 billion, a P/E ratio of 46.53 and a beta of 1.86. Enerflex Ltd. has a 52 week low of $9.81 and a 52 week high of $29.15.

Enerflex (NYSE:EFXT - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.06). Enerflex had a net margin of 2.06% and a return on equity of 11.76%. The company had revenue of $582.00 million during the quarter, compared to the consensus estimate of $606.78 million. Equities analysts forecast that Enerflex Ltd. will post 1.34 earnings per share for the current fiscal year.

Enerflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 19th. Enerflex's dividend payout ratio is presently 27.91%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Raymond James Financial increased their price target on Enerflex from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. TD Securities restated a "buy" rating on shares of Enerflex in a report on Friday, May 8th. National Bank Financial raised Enerflex from a "sector perform" rating to an "outperform" rating in a research report on Thursday, May 7th. BMO Capital Markets reiterated an "outperform" rating on shares of Enerflex in a report on Friday, May 8th. Finally, Wall Street Zen cut Enerflex from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.17.

Enerflex Profile

Enerflex Ltd is a Calgary‐headquartered energy infrastructure company specializing in the design, fabrication, installation and aftermarket support of natural gas compression, processing, refrigeration and treatment equipment. Its product portfolio includes reciprocating and centrifugal compression systems, gas treating and refrigeration packages, fuel gas conditioning and liquid separation solutions. In addition to equipment sales, Enerflex delivers field services such as commissioning, maintenance, monitoring and parts supply to optimize asset performance throughout the lifecycle.

The company supports upstream, midstream and downstream energy customers through an integrated offering that spans engineering, procurement and construction (EPC) as well as modular fabrication.

Want to see what other hedge funds are holding EFXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enerflex Ltd. (NYSE:EFXT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source