Connor Clark & Lunn Investment Management Ltd. Makes New $330.51 Million Investment in Enerflex Ltd. $EFXT

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enerflex Ltd. (NYSE:EFXT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,471,786 shares of the company’s stock, valued at approximately $330,515,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Enerflex as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of EFXT. Arrowstreet Capital Limited Partnership raised its holdings in shares of Enerflex by 240.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 466,627 shares of the company’s stock valued at $9,763,000 after acquiring an additional 329,469 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Enerflex by 21.0% in the first quarter. Public Employees Retirement System of Ohio now owns 408,015 shares of the company’s stock worth $8,506,000 after acquiring an additional 70,818 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Enerflex by 51.4% in the first quarter. Bank of America Corp DE now owns 1,293,472 shares of the company’s stock worth $27,059,000 after acquiring an additional 438,920 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Enerflex during the fourth quarter worth approximately $429,000. Finally, Tacita Capital Inc acquired a new position in Enerflex in the 2nd quarter valued at $1,204,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

Analyst Ratings Changes

EFXT has been the topic of a number of research reports. National Bank Financial upgraded Enerflex from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 7th. Weiss Ratings cut shares of Enerflex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Royal Bank Of Canada raised their price target on shares of Enerflex from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Raymond James Financial boosted their price target on shares of Enerflex from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, TD Securities reaffirmed a “buy” rating on shares of Enerflex in a research note on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.17.

Enerflex Price Performance

NYSE EFXT opened at $20.34 on Monday. The business’s fifty day simple moving average is $22.92 and its 200-day simple moving average is $22.92. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a market cap of $2.48 billion, a PE ratio of 47.30 and a beta of 1.86. Enerflex Ltd. has a 52 week low of $9.64 and a 52 week high of $29.15.

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

Enerflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.0425 dividend. The ex-dividend date of this dividend is 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%.

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.