West Tower Group LLC Buys New Shares in Enerflex Ltd. (NYSE:EFXT)

West Tower Group LLC bought a new stake in Enerflex Ltd. (NYSE:EFXT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $119,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew its position in Enerflex by 16.3% during the second quarter. Clearbridge Investments LLC now owns 567,366 shares of the company’s stock valued at $3,064,000 after acquiring an additional 79,419 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Enerflex in the third quarter worth about $730,000. Marshall Wace LLP boosted its position in shares of Enerflex by 183.4% in the second quarter. Marshall Wace LLP now owns 218,505 shares of the company’s stock worth $1,180,000 after buying an additional 141,393 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Enerflex by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 179,088 shares of the company’s stock worth $965,000 after buying an additional 7,700 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in Enerflex by 16.1% in the second quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock valued at $55,819,000 after purchasing an additional 1,435,900 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Enerflex Trading Down 0.2 %

Shares of NYSE EFXT opened at $9.39 on Tuesday. The stock’s 50 day moving average price is $6.79 and its two-hundred day moving average price is $5.87. Enerflex Ltd. has a 52-week low of $4.01 and a 52-week high of $9.53. The stock has a market capitalization of $1.16 billion, a P/E ratio of -14.89 and a beta of 1.89. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.79.

Enerflex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.0268 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.11 annualized dividend and a yield of 1.14%. This is a boost from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s dividend payout ratio is presently -11.11%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada increased their price target on Enerflex from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

Enerflex Company 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.