NewGen Asset Management Ltd Reduces Stock Position in Enerflex Ltd. $EFXT

NewGen Asset Management Ltd decreased its stake in shares of Enerflex Ltd. (NYSE:EFXT) by 6.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 736,744 shares of the company’s stock after selling 50,000 shares during the period. Enerflex makes up about 6.0% of NewGen Asset Management Ltd’s portfolio, making the stock its 4th largest position. NewGen Asset Management Ltd’s holdings in Enerflex were worth $15,413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Millennium Management LLC raised its position in Enerflex by 351.0% in the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock valued at $8,747,000 after buying an additional 880,358 shares during the last quarter. Man Group plc boosted its holdings in Enerflex by 433.7% during the 2nd quarter. Man Group plc now owns 1,069,556 shares of the company’s stock worth $8,426,000 after acquiring an additional 869,156 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 acquiring an additional 752,893 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Enerflex by 31.8% in the 4th quarter. TD Asset Management Inc now owns 2,151,660 shares of the company’s stock worth $33,215,000 after acquiring an additional 518,639 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in shares of Enerflex by 2,060.8% in the 4th quarter. Fiera Capital Corp now owns 536,529 shares of the company’s stock worth $8,274,000 after acquiring an additional 511,699 shares in the last quarter. Institutional investors own 46.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on EFXT shares. National Bank Financial raised shares of Enerflex from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 7th. TD Securities reaffirmed a “buy” rating on shares of Enerflex in a research report on Friday, May 8th. Royal Bank Of Canada increased their price objective on shares of Enerflex from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce reissued a “neutral” rating and set a $30.00 target price on shares of Enerflex in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded Enerflex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Enerflex Price Performance

Shares of NYSE EFXT opened at $23.09 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $25.02 and a two-hundred day simple moving average of $21.99. Enerflex Ltd. has a 1-year low of $7.59 and a 1-year high of $29.15. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 34.47 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, beating the consensus estimate of $0.27 by $0.08. Enerflex had a return on equity of 14.53% and a net margin of 3.19%.The firm had revenue of $584.00 million for the quarter, compared to analyst estimates of $607.26 million. Analysts anticipate that Enerflex Ltd. will post 1.63 earnings per share 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 paid a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, May 20th. Enerflex’s payout ratio is currently 19.40%.

Enerflex 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.