Connor Clark & Lunn Investment Management Ltd. Makes New $43.94 Million Investment in Enerflex Ltd. (NYSE:EFXT)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enerflex Ltd. (NYSE:EFXT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,418,980 shares of the company’s stock, valued at approximately $43,935,000.

A number of other hedge funds also recently bought and sold shares of EFXT. Canoe Financial LP lifted its holdings in Enerflex by 10.2% during the fourth quarter. Canoe Financial LP now owns 8,276,972 shares of the company’s stock worth $82,342,000 after buying an additional 768,210 shares during the period. Taconic Capital Advisors LP increased its position in shares of Enerflex by 35.6% during the third quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock worth $10,559,000 after purchasing an additional 465,000 shares in the last quarter. K.J. Harrison & Partners Inc increased its position in shares of Enerflex by 100.4% during the fourth quarter. K.J. Harrison & Partners Inc now owns 471,919 shares of the company’s stock worth $4,795,000 after purchasing an additional 236,419 shares in the last quarter. PCJ Investment Counsel Ltd. increased its position in shares of Enerflex by 14.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock worth $7,376,000 after purchasing an additional 152,990 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Enerflex during the fourth quarter worth $1,364,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Price Performance

NYSE EFXT opened at $7.35 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. The stock’s fifty day moving average price is $9.28 and its 200 day moving average price is $8.06. Enerflex Ltd. has a 1 year low of $4.59 and a 1 year high of $10.61. The company has a market cap of $911.95 million, a price-to-earnings ratio of -11.66 and a beta of 2.12.

Enerflex Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a $0.026 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, March 10th. Enerflex’s payout ratio is 40.00%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upped their price target on Enerflex from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

Enerflex Profile

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.