Mackenzie Financial Corp Decreases Stake in Enerflex Ltd. (NYSE:EFXT)

Mackenzie Financial Corp lowered its position in Enerflex Ltd. (NYSE:EFXT) by 36.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 50,467 shares of the company’s stock after selling 28,710 shares during the period. Mackenzie Financial Corp’s holdings in Enerflex were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EFXT. Canoe Financial LP purchased a new position in shares of Enerflex during the 1st quarter worth $61,792,000. 1832 Asset Management L.P. raised its holdings in shares of Enerflex by 2.4% during the 1st quarter. 1832 Asset Management L.P. now owns 7,427,900 shares of the company’s stock worth $44,270,000 after acquiring an additional 177,300 shares during the period. Letko Brosseau & Associates Inc. raised its holdings in shares of Enerflex by 0.9% during the 1st quarter. Letko Brosseau & Associates Inc. now owns 7,111,636 shares of the company’s stock worth $42,301,000 after acquiring an additional 65,025 shares during the period. Bank of Montreal Can purchased a new position in shares of Enerflex during the 2nd quarter worth $8,794,000. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Enerflex by 7.5% during the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 984,727 shares of the company’s stock worth $5,857,000 after acquiring an additional 68,400 shares during the period. Hedge funds and other institutional investors own 44.06% of the company’s stock.

Enerflex Stock Performance

NYSE EFXT opened at $4.11 on Thursday. The stock has a 50-day moving average of $5.01 and a two-hundred day moving average of $6.01. The company has a market cap of $509.35 million and a P/E ratio of -5.71. Enerflex Ltd. has a 1-year low of $3.94 and a 1-year high of $8.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.29 and a quick ratio of 0.91.

Enerflex (NYSE:EFXT) last posted its earnings results on Wednesday, August 9th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $578.25 million for the quarter. Enerflex had a positive return on equity of 0.64% and a negative net margin of 3.85%. As a group, analysts anticipate that Enerflex Ltd. will post 0.69 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on EFXT. National Bank Financial lifted their price target on Enerflex from C$11.50 to C$14.00 in a report on Thursday, August 10th. Royal Bank of Canada cut their price objective on Enerflex from C$15.00 to C$14.00 in a research report on Wednesday, October 4th. Stifel Nicolaus cut their price objective on Enerflex from C$16.50 to C$12.00 in a research report on Tuesday, October 3rd. TheStreet downgraded Enerflex from a “c-” rating to a “d+” rating in a research report on Thursday, September 7th. Finally, BMO Capital Markets cut their price objective on Enerflex from C$10.00 to C$6.00 in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Enerflex Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and Eastern Hemisphere. The company provides natural gas compression infrastructure, power generation, and processing 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, electric power solutions, and water 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.