Enerflex (NYSE:EFXT) Trading Down 6.3% – Here’s Why

Enerflex Ltd. (NYSE:EFXT) shares dropped 6.3% during mid-day trading on Wednesday . The company traded as low as $25.39 and last traded at $25.3820. Approximately 198,141 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 600,057 shares. The stock had previously closed at $27.08.

Analysts Set New Price Targets

EFXT has been the subject of a number of recent research reports. TD Securities reissued a “buy” rating on shares of Enerflex in a report on Friday, May 8th. Raymond James Financial increased their target price on Enerflex from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday. Weiss Ratings raised Enerflex from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. BMO Capital Markets reissued an “outperform” rating on shares of Enerflex in a report on Friday, May 8th. Finally, Royal Bank Of Canada increased their target price on Enerflex from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Enerflex has an average rating of “Moderate Buy” and an average price target of $35.33.

Enerflex Price Performance

The stock has a fifty day moving average of $24.14 and a two-hundred day moving average of $19.42. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 36.91 and a beta of 1.93. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.53.

Enerflex (NYSE:EFXT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Enerflex had a return on equity of 14.53% and a net margin of 3.19%.The firm had revenue of $584.00 million during the quarter, compared to analysts’ expectations of $607.26 million. As a group, equities research analysts forecast that Enerflex Ltd. will post 1.68 earnings per share for the current year.

Enerflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be issued a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, May 20th. Enerflex’s dividend payout ratio (DPR) is currently 19.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EFXT. Millennium Management LLC boosted its position in Enerflex by 351.0% in the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock valued at $8,747,000 after buying an additional 880,358 shares during the last quarter. NewEdge Advisors LLC boosted its position 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 last quarter. Goldman Sachs Group Inc. boosted its position in Enerflex by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after buying an additional 752,893 shares during the last quarter. Geode Capital Management LLC boosted its position in Enerflex by 28.1% in the 2nd quarter. Geode Capital Management LLC now owns 83,987 shares of the company’s stock valued at $665,000 after buying an additional 18,434 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Enerflex by 8.3% in the 2nd quarter. Legal & General Group Plc now owns 155,243 shares of the company’s stock valued at $1,223,000 after buying an additional 11,920 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors.

About Enerflex

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.