Canoe Financial LP Sells 67,998 Shares of Enerflex Ltd. $EFXT

Canoe Financial LP decreased its position in Enerflex Ltd. (NYSE:EFXT) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,163,214 shares of the company’s stock after selling 67,998 shares during the period. Canoe Financial LP owned about 5.04% of Enerflex worth $66,459,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. D Orazio & Associates Inc. bought a new stake in shares of Enerflex during the second quarter valued at approximately $80,000. Vise Technologies Inc. acquired a new stake in Enerflex during the second quarter worth $85,000. Baron Wealth Management LLC increased its holdings in Enerflex by 31.7% in the 2nd quarter. Baron Wealth Management LLC now owns 15,215 shares of the company’s stock valued at $120,000 after buying an additional 3,666 shares during the period. NewEdge Advisors LLC increased its holdings in Enerflex by 984.3% in the 1st quarter. NewEdge Advisors LLC now owns 22,791 shares of the company’s stock valued at $176,000 after buying an additional 20,689 shares during the period. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Enerflex by 15.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 23,628 shares of the company’s stock valued at $186,000 after buying an additional 3,098 shares in the last quarter. Institutional investors own 46.47% of the company’s stock.

Analyst Upgrades and Downgrades

EFXT has been the topic of several recent research reports. Royal Bank Of Canada lifted their target price on shares of Enerflex from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Wall Street Zen upgraded shares of Enerflex from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Zacks Research downgraded Enerflex from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Raymond James Financial upgraded Enerflex from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Enerflex in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.13.

Enerflex Stock Performance

NYSE EFXT opened at $15.19 on Friday. Enerflex Ltd. has a 1-year low of $6.18 and a 1-year high of $16.01. The company has a 50 day moving average of $13.69 and a 200-day moving average of $10.80. The company has a current ratio of 1.24, a quick ratio of 0.88 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 13.81 and a beta of 1.99.

Enerflex (NYSE:EFXT) last announced its earnings results on Thursday, November 6th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). Enerflex had a return on equity of 12.35% and a net margin of 5.43%.The business had revenue of $777.00 million during the quarter, compared to analyst estimates of $682.88 million. On average, equities analysts forecast that Enerflex Ltd. will post 0.25 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a dividend of $0.0425 per share. The ex-dividend date was Monday, November 17th. This is a boost from Enerflex’s previous quarterly dividend of $0.04. This represents a $0.17 annualized dividend and a dividend yield of 1.1%. Enerflex’s dividend payout ratio (DPR) is currently 10.91%.

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.