Enerflex (NYSE:EFXT) Cut to Hold at TD Securities

TD Securities cut shares of Enerflex (NYSE:EFXT) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Enerflex from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. BMO Capital Markets reiterated an “outperform” rating on shares of Enerflex in a report on Friday, October 16th. Royal Bank Of Canada dropped their price target on Enerflex from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 30th. Weiss Ratings raised Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Enerflex currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Enerflex Stock Up 2.9%

Shares of EFXT stock traded up $0.55 during mid-day trading on Wednesday, reaching $19.42. 1,236,457 shares of the company’s stock traded hands, compared to its average volume of 625,459. Enerflex has a 12 month low of $12.57 and a 12 month high of $29.15. The company has a market cap of $2.37 billion, a P/E ratio of 33.49 and a beta of 1.79. The company has a quick ratio of 0.89, a current ratio of 1.23 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $23.10 and its 200-day moving average price is $22.66.

Enerflex (NYSE:EFXT) last issued its quarterly earnings results 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. Enerflex had a net margin of 2.94% and a return on equity of 13.15%. The company had revenue of $623.00 million during the quarter, compared to analyst estimates of $632.70 million. On average, equities analysts expect that Enerflex will post 1.42 earnings per share for the current fiscal year.

Enerflex Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be paid a dividend of C$0.04 per share. The ex-dividend date is Thursday, November 12th. This represents a $0.14 dividend on an annualized basis and a yield of 0.7%. This is a decrease from Enerflex’s previous quarterly dividend of C$0.04. Enerflex’s dividend payout ratio (DPR) is 20.69%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EFXT. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Enerflex during the second quarter valued at approximately $330,515,000. Bank of America Corp DE bought a new position in Enerflex in the 2nd quarter valued at approximately $30,569,000. Cibc World Market Inc. purchased a new stake in Enerflex during the 2nd quarter valued at $15,851,000. The Manufacturers Life Insurance Company bought a new stake in shares of Enerflex in the 2nd quarter worth $12,082,000. Finally, Caldwell Investment Management Ltd. bought a new stake in shares of Enerflex in the 2nd quarter worth $10,074,000. Institutional investors own 46.47% of the company’s stock.

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.