Canoe Financial LP Has $96.81 Million Stock Position in Enerflex Ltd. $EFXT

Canoe Financial LP lowered its position in shares of Enerflex Ltd. (NYSE:EFXT) by 24.8% in the first quarter, HoldingsChannel reports. The fund owned 4,629,559 shares of the company’s stock after selling 1,528,286 shares during the period. Canoe Financial LP’s holdings in Enerflex were worth $96,810,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Enerflex by 0.6% in the third 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 last quarter. Mackenzie Financial Corp raised its holdings in Enerflex by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 4,878,942 shares of the company’s stock worth $76,327,000 after purchasing an additional 186,649 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Enerflex by 51.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock worth $17,031,000 after purchasing an additional 752,893 shares during the last quarter. TD Asset Management Inc lifted its position in 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 purchasing an additional 518,639 shares during the period. Finally, Bank of Montreal Can lifted its position in Enerflex by 11.8% during the 4th quarter. Bank of Montreal Can now owns 1,735,826 shares of the company’s stock valued at $26,761,000 after purchasing an additional 182,578 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

Enerflex Price Performance

Enerflex stock opened at $24.90 on Monday. The firm has a market capitalization of $3.04 billion, a P/E ratio of 37.16 and a beta of 1.83. Enerflex Ltd. has a 1 year low of $7.59 and a 1 year high of $29.15. The business has a 50-day moving average of $25.62 and a 200-day moving average of $21.06. 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 announced 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. The business had revenue of $584.00 million for the quarter, compared to the consensus estimate of $607.26 million. Enerflex had a net margin of 3.19% and a return on equity of 14.53%. On average, equities analysts anticipate that Enerflex Ltd. will post 1.66 EPS for the current year.

Enerflex Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Enerflex in a research report on Friday, May 8th. National Bank Financial upgraded shares of Enerflex from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 7th. Raymond James Financial raised their price objective on shares of Enerflex from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and set a $28.00 target price on shares of Enerflex in a report on Friday, May 8th. Finally, TD Securities reiterated a “buy” rating on shares of Enerflex in a research report on Friday, May 8th. One investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.33.

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.