Canoe Financial LP Reduces Stake in Enerflex Ltd. (NYSE:EFXT)

Canoe Financial LP lowered its holdings in Enerflex Ltd. (NYSE:EFXT) by 4.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,508,762 shares of the company’s stock after selling 345,413 shares during the quarter. Canoe Financial LP owned about 6.05% of Enerflex worth $44,557,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. 1832 Asset Management L.P. grew its stake in Enerflex by 16.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock worth $55,819,000 after buying an additional 1,435,900 shares during the last quarter. Mackenzie Financial Corp grew its stake in Enerflex by 57.9% during the 2nd quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company’s stock worth $23,631,000 after buying an additional 1,606,236 shares during the last quarter. Clearbridge Investments LLC grew its stake in Enerflex by 16.3% during the 2nd quarter. Clearbridge Investments LLC now owns 567,366 shares of the company’s stock worth $3,064,000 after buying an additional 79,419 shares during the last quarter. Hartree Partners LP purchased a new position in Enerflex during the 1st quarter worth approximately $1,458,000. Finally, Marshall Wace LLP grew its stake in Enerflex by 183.4% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Stock Up 0.6 %

Enerflex stock opened at $6.48 on Monday. Enerflex Ltd. has a twelve month low of $3.94 and a twelve month high of $6.82. The stock has a 50 day moving average of $6.00 and a two-hundred day moving average of $5.62. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $803.78 million, a price-to-earnings ratio of -7.81 and a beta of 2.01.

Enerflex (NYSE:EFXT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Enerflex had a negative return on equity of 1.86% and a negative net margin of 4.25%. The company had revenue of $614.00 million for the quarter, compared to analyst estimates of $554.20 million. As a group, research analysts expect that Enerflex Ltd. will post 0.19 earnings per share for the current year.

Enerflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Thursday, August 22nd were given a dividend of $0.018 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.07 dividend on an annualized basis and a yield of 1.11%. Enerflex’s payout ratio is -8.43%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised their price target on Enerflex from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th.

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.