PCJ Investment Counsel Ltd. Sells 320,570 Shares of Enerflex Ltd. $EFXT

PCJ Investment Counsel Ltd. reduced its holdings in shares of Enerflex Ltd. (NYSE:EFXT) by 21.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,167,110 shares of the company’s stock after selling 320,570 shares during the quarter. Enerflex accounts for 3.5% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 5th largest position. PCJ Investment Counsel Ltd.’s holdings in Enerflex were worth $12,585,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in Enerflex by 29.0% in the 2nd quarter. Acadian Asset Management LLC now owns 2,072,660 shares of the company’s stock valued at $16,312,000 after purchasing an additional 466,535 shares in the last quarter. Intact Investment Management Inc. acquired a new position in shares of Enerflex during the third quarter worth about $5,053,000. NewGen Equity Long Short Fund purchased a new stake in shares of Enerflex in the second quarter worth about $5,628,000. Cibc World Market Inc. boosted its position in shares of Enerflex by 267.3% in the third quarter. Cibc World Market Inc. now owns 498,718 shares of the company’s stock worth $5,378,000 after buying an additional 362,939 shares during the period. Finally, Caprock Group LLC acquired a new stake in shares of Enerflex in the third quarter valued at about $271,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Trading Up 0.1%

Shares of EFXT opened at $22.01 on Wednesday. Enerflex Ltd. has a one year low of $6.18 and a one year high of $23.82. The stock has a 50-day moving average price of $18.24 and a 200 day moving average price of $14.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.13. The company has a market capitalization of $2.68 billion, a P/E ratio of 43.16 and a beta of 1.84.

Enerflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, March 11th. Enerflex’s dividend payout ratio is 23.53%.

Wall Street Analyst Weigh In

Several research firms recently commented on EFXT. Royal Bank Of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Enerflex in a research report on Thursday, January 15th. Raymond James Financial downgraded shares of Enerflex from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, February 3rd. Zacks Research cut shares of Enerflex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Enerflex in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Enerflex from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Enerflex presently has an average rating of “Moderate Buy” and an average price target of $14.63.

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.