T. Rowe Price Investment Management Inc. Trims Position in Enerflex Ltd. (NYSE:EFXT)

T. Rowe Price Investment Management Inc. lowered its position in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,516,961 shares of the company's stock after selling 3,078,475 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 8.47% of Enerflex worth $104,644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canoe Financial LP grew its position in shares of Enerflex by 10.2% in the fourth quarter. Canoe Financial LP now owns 8,276,972 shares of the company's stock valued at $82,342,000 after purchasing an additional 768,210 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Enerflex by 3,307.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 4,895,901 shares of the company's stock valued at $48,685,000 after acquiring an additional 4,752,201 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Enerflex in the fourth quarter valued at about $43,935,000. Bank of Montreal Can increased its position in Enerflex by 44.4% during the fourth quarter. Bank of Montreal Can now owns 705,114 shares of the company's stock worth $7,010,000 after purchasing an additional 216,839 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Enerflex during the fourth quarter worth about $5,871,000. Hedge funds and other institutional investors own 46.47% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada cut their price target on shares of Enerflex from $14.00 to $12.00 and set an "outperform" rating for the company in a report on Thursday, April 17th.

Enerflex Stock Down 2.6 %

Shares of EFXT stock traded down $0.17 during trading hours on Wednesday, reaching $6.49. 222,928 shares of the stock were exchanged, compared to its average volume of 277,772. The business's fifty day moving average is $7.26 and its two-hundred day moving average is $8.33. The firm has a market capitalization of $805.73 million, a P/E ratio of -10.30 and a beta of 1.95. Enerflex Ltd. has a 12-month low of $4.60 and a 12-month high of $10.61. 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 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.026 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.10 dividend on an annualized basis and a yield of 1.60%. Enerflex's payout ratio is currently 40.00%.

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.