Enerflex Ltd. $EFXT Stock: Hennessy Advisors Inc. Cuts Stake

Hennessy Advisors Inc. lessened its holdings in shares of Enerflex Ltd. (NYSE:EFXT) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 316,000 shares of the company’s stock after selling 30,800 shares during the quarter. Hennessy Advisors Inc.’s holdings in Enerflex were worth $7,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enerflex in the second quarter worth about $330,515,000. Bank of America Corp DE bought a new position in shares of Enerflex during the 2nd quarter valued at approximately $30,569,000. Dimensional Fund Advisors LP grew its stake in shares of Enerflex by 33.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,208,011 shares of the company’s stock valued at $25,268,000 after acquiring an additional 303,398 shares during the period. Cibc World Market Inc. purchased a new stake in Enerflex in the 2nd quarter worth approximately $15,851,000. Finally, TD Waterhouse Canada Inc. increased its holdings in Enerflex by 74.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock worth $13,170,000 after acquiring an additional 238,574 shares in the last quarter. Institutional investors own 46.47% of the company’s stock.

Enerflex Trading Up 0.0%

Shares of EFXT opened at $23.64 on Monday. Enerflex Ltd. has a twelve month low of $12.46 and a twelve month high of $29.15. The company has a market cap of $2.89 billion, a P/E ratio of 40.76 and a beta of 1.79. The company has a current ratio of 1.23, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $23.02 and its 200-day simple moving average is $22.55.

Enerflex (NYSE:EFXT) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.12. The company had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $632.70 million. Enerflex had a return on equity of 13.15% and a net margin of 2.94%. As a group, analysts expect that Enerflex Ltd. will post 1.42 EPS for the current year.

Enerflex Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be given a C$0.04 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, November 12th. This is a negative change from Enerflex’s previous quarterly dividend of C$0.04. Enerflex’s payout ratio is 20.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EFXT shares. Canadian Imperial Bank of Commerce set a $35.00 price target on Enerflex and gave the stock an “outperform” rating in a research note on Tuesday, October 13th. Weiss Ratings upgraded Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded Enerflex from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research downgraded Enerflex from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Acumen Capital raised Enerflex to a “strong-buy” rating in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

About Enerflex

Enerflex Ltd. (NYSE: EFXT) is a Calgary-based energy infrastructure company that provides equipment, services and solutions for the processing, compression and transportation of natural gas. Its offerings support energy producers, midstream operators and industrial customers across the natural gas value chain.

The company designs, engineers, manufactures, commissions and services natural gas compression systems, gas processing and treating facilities, refrigeration and cryogenic systems, and electric power generation equipment.