Enerflex (NYSE:EFXT) Stock Price Down 3.5%

Enerflex Ltd. (NYSE:EFXT) shares fell 3.5% during trading on Wednesday . The company traded as low as $5.35 and last traded at $5.48. 117,306 shares were traded during mid-day trading, a decline of 38% from the average session volume of 187,941 shares. The stock had previously closed at $5.68.

Analysts Set New Price Targets

A number of research firms have recently commented on EFXT. Royal Bank of Canada increased their price objective on Enerflex from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Acumen Capital upgraded Enerflex to a “strong-buy” rating in a research note on Saturday, June 1st. Finally, National Bank Financial downgraded Enerflex from a “strong-buy” rating to a “hold” rating in a research note on Sunday, June 2nd. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $9.00.

Enerflex Stock Down 2.6 %

The business has a 50 day moving average of $5.42 and a 200-day moving average of $5.51. The stock has a market cap of $685.97 million, a PE ratio of -6.38 and a beta of 2.01. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85.

Enerflex (NYSE:EFXT) last announced its earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $614.00 million during the quarter, compared to analysts’ expectations of $554.20 million. Enerflex had a negative net margin of 4.61% and a negative return on equity of 2.47%. Equities research analysts predict that Enerflex Ltd. will post 0.28 EPS for the current fiscal year.

Enerflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Thursday, August 22nd will be issued a $0.018 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.07 annualized dividend and a dividend yield of 1.30%. Enerflex’s dividend payout ratio is currently -7.87%.

Institutional Trading of Enerflex

Hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp raised its holdings in Enerflex by 57.9% during the second quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company’s stock worth $23,631,000 after purchasing an additional 1,606,236 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Enerflex by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 179,088 shares of the company’s stock worth $965,000 after purchasing an additional 7,700 shares during the last quarter. Marshall Wace LLP raised its holdings in Enerflex by 183.4% during the second quarter. Marshall Wace LLP now owns 218,505 shares of the company’s stock worth $1,180,000 after purchasing an additional 141,393 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in Enerflex by 16.1% during the second quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock worth $55,819,000 after purchasing an additional 1,435,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in Enerflex during the second quarter worth $609,000. 46.47% of the stock is owned by institutional investors and hedge funds.

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.