Ewing Morris & Co. Investment Partners Ltd. Cuts Holdings in Enerflex Ltd. $EFXT

Ewing Morris & Co. Investment Partners Ltd. decreased its position in Enerflex Ltd. (NYSE:EFXT) by 12.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 220,000 shares of the company’s stock after selling 30,000 shares during the period. Enerflex comprises 2.8% of Ewing Morris & Co. Investment Partners Ltd.’s portfolio, making the stock its 10th biggest position. Ewing Morris & Co. Investment Partners Ltd. owned about 0.18% of Enerflex worth $5,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enerflex during the second quarter valued at approximately $330,515,000. Mackenzie Financial Corp boosted its position in Enerflex by 4.0% during the fourth 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 period. Goldman Sachs Group Inc. boosted its holdings in shares of 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 buying an additional 752,893 shares during the period. TD Asset Management Inc boosted its holdings in shares of Enerflex by 31.8% during the fourth 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 during the period. Finally, Bank of Montreal Can boosted its stake in Enerflex by 11.8% in 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. 46.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EFXT. Weiss Ratings lowered shares of Enerflex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Royal Bank Of Canada lifted their target price on Enerflex from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Canadian Imperial Bank of Commerce set a $27.50 price target on shares of Enerflex in a report on Monday, August 10th. TD Securities reiterated a “buy” rating on shares of Enerflex in a report on Friday, May 8th. Finally, Raymond James Financial raised their target price on Enerflex from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Enerflex presently has an average rating of “Moderate Buy” and an average price target of $35.17.

Enerflex Stock Up 4.9%

Shares of NYSE:EFXT opened at $21.37 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19. Enerflex Ltd. has a 52-week low of $9.81 and a 52-week high of $29.15. The business’s 50 day simple moving average is $22.27 and its two-hundred day simple moving average is $23.04. The firm has a market cap of $2.61 billion, a P/E ratio of 49.69 and a beta of 1.84.

Enerflex (NYSE:EFXT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.06). Enerflex had a net margin of 2.06% and a return on equity of 11.76%. The business had revenue of $582.00 million during the quarter, compared to analyst estimates of $606.78 million. As a group, research analysts forecast that Enerflex Ltd. will post 1.34 EPS for the current fiscal year.

Enerflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a $0.0425 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.17 annualized dividend and a dividend yield of 0.8%. Enerflex’s dividend payout ratio is 27.91%.

Enerflex Company 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.