Letko Brosseau & Associates Inc. Decreases Stake in Enerflex Ltd. (NYSE:EFXT)

Letko Brosseau & Associates Inc. lessened its position in shares of Enerflex Ltd. (NYSE:EFXT) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,628,286 shares of the company’s stock after selling 110,800 shares during the quarter. Letko Brosseau & Associates Inc. owned about 0.05% of Enerflex worth $35,749,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EFXT. Avidian Wealth Solutions LLC purchased a new position in shares of Enerflex in the first quarter valued at $90,000. Scotia Capital Inc. purchased a new position in shares of Enerflex in the 4th quarter worth $81,000. Fiera Capital Corp increased its holdings in shares of Enerflex by 117.0% in the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock worth $134,000 after buying an additional 13,390 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Enerflex by 24.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company’s stock valued at $174,000 after buying an additional 6,325 shares in the last quarter. Finally, Aigen Investment Management LP raised its position in shares of Enerflex by 110.3% during the 4th quarter. Aigen Investment Management LP now owns 46,076 shares of the company’s stock valued at $213,000 after buying an additional 24,163 shares in the last quarter. Institutional investors own 46.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EFXT shares. National Bank Financial cut Enerflex from a “strong-buy” rating to a “hold” rating in a research note on Sunday, June 2nd. Acumen Capital upgraded Enerflex to a “strong-buy” rating in a report on Saturday, June 1st. Finally, Royal Bank of Canada increased their price target on Enerflex from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, August 9th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $9.00.

Enerflex Trading Down 2.9 %

Enerflex stock traded down $0.17 during midday trading on Friday, reaching $5.60. The stock had a trading volume of 159,270 shares, compared to its average volume of 187,393. Enerflex Ltd. has a 52-week low of $3.94 and a 52-week high of $6.39. The company has a fifty day moving average of $5.59 and a 200 day moving average of $5.56. The firm has a market cap of $694.65 million, a price-to-earnings ratio of -6.30 and a beta of 2.01. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 0.92.

Enerflex (NYSE:EFXT) last issued its quarterly 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). Enerflex had a negative return on equity of 1.86% and a negative net margin of 4.25%. The business had revenue of $614.00 million during the quarter, compared to analysts’ expectations of $554.20 million. On average, analysts anticipate that Enerflex Ltd. will post 0.18 earnings per share for the current fiscal year.

Enerflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.018 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.07 annualized dividend and a dividend yield of 1.29%. Enerflex’s dividend payout ratio (DPR) is -7.87%.

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.