Letko Brosseau & Associates Inc. Sells 2,158,748 Shares of Enerflex Ltd. $EFXT

Letko Brosseau & Associates Inc. cut its position in Enerflex Ltd. (NYSE:EFXT) by 43.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,815,688 shares of the company’s stock after selling 2,158,748 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Enerflex were worth $43,465,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Enerflex by 0.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,735,102 shares of the company’s stock valued at $61,841,000 after acquiring an additional 36,477 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of Enerflex by 435.9% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 4,701,464 shares of the company’s stock valued at $50,695,000 after acquiring an additional 3,824,093 shares during the period. Mackenzie Financial Corp lifted its position in shares of Enerflex by 1.6% during the 3rd quarter. Mackenzie Financial Corp now owns 4,692,293 shares of the company’s stock valued at $50,597,000 after acquiring an additional 75,652 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Enerflex by 51.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after acquiring an additional 752,893 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Enerflex by 31.8% during the 4th quarter. TD Asset Management Inc now owns 2,151,660 shares of the company’s stock valued at $33,215,000 after acquiring an additional 518,639 shares during the period. 46.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EFXT. Raymond James Financial upped their target price on Enerflex from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. TD Securities reiterated a “buy” rating on shares of Enerflex in a research report on Friday, May 8th. Weiss Ratings upgraded Enerflex from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Zacks Research upgraded Enerflex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Enerflex in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Enerflex presently has an average rating of “Moderate Buy” and an average target price of $35.33.

Enerflex Price Performance

Shares of EFXT opened at $24.70 on Wednesday. Enerflex Ltd. has a 12-month low of $7.54 and a 12-month high of $29.15. The business has a 50-day simple moving average of $24.77 and a two-hundred day simple moving average of $20.10. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. The stock has a market cap of $3.01 billion, a PE ratio of 36.86 and a beta of 1.83.

Enerflex (NYSE:EFXT) last issued its earnings results on Thursday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $584.00 million during the quarter, compared to analysts’ expectations of $607.26 million. Analysts anticipate that Enerflex Ltd. will post 1.66 earnings per share for the current fiscal year.

Enerflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were issued a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 20th. Enerflex’s dividend payout ratio is presently 19.40%.

Enerflex Company Profile

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.