Enerflex Ltd. (NYSE:EFXT) Sees Large Increase in Short Interest

Enerflex Ltd. (NYSE:EFXT) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 2,540,043 shares, an increase of 68.1% from the September 30th total of 1,511,119 shares. Based on an average trading volume of 800,275 shares, the short-interest ratio is currently 3.2 days. Approximately 2.1% of the shares of the stock are short sold.

Enerflex Trading Up 0.0%

EFXT stock opened at $23.64 on Monday. The company has a fifty day moving average price of $23.02 and a two-hundred day moving average price of $22.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.23 and a quick ratio of 0.89. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 40.76 and a beta of 1.79. Enerflex has a one year low of $12.46 and a one year high of $29.15.

Enerflex (NYSE:EFXT) last posted its earnings results on Thursday, October 29th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. Enerflex had a return on equity of 13.15% and a net margin of 2.94%. The company had revenue of $623.00 million during the quarter, compared to the consensus estimate of $632.70 million. Equities analysts anticipate that Enerflex will post 1.42 EPS for the current year.

Enerflex Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be issued a C$0.04 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.14 dividend on an annualized basis and a yield of 0.6%. This is a decrease from Enerflex’s previous quarterly dividend of C$0.04. Enerflex’s payout ratio is presently 20.69%.

Institutional Investors Weigh In On Enerflex

A number of hedge funds and other institutional investors have recently made changes to their positions in EFXT. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enerflex in the 2nd quarter valued at $330,515,000. Bank of America Corp DE raised its position in shares of Enerflex by 51.4% in the 1st quarter. Bank of America Corp DE now owns 1,293,472 shares of the company’s stock valued at $27,059,000 after buying an additional 438,920 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Enerflex by 33.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,208,011 shares of the company’s stock worth $25,268,000 after acquiring an additional 303,398 shares during the period. Cibc World Market Inc. bought a new stake in shares of Enerflex during the 2nd quarter worth approximately $15,851,000. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Enerflex by 74.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock worth $13,170,000 after acquiring an additional 238,574 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Acumen Capital upgraded Enerflex to a “strong-buy” rating in a research note on Friday, October 2nd. Wall Street Zen raised shares of Enerflex from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research lowered shares of Enerflex from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of 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 objective on shares of Enerflex and gave the stock an “outperform” rating in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Enerflex presently has an average rating of “Moderate Buy” and an average target price of $38.00.

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.