1832 Asset Management L.P. Purchases 1,435,900 Shares of Enerflex Ltd. (NYSE:EFXT)

1832 Asset Management L.P. boosted its position in Enerflex Ltd. (NYSE:EFXT) by 16.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,336,900 shares of the company’s stock after purchasing an additional 1,435,900 shares during the period. 1832 Asset Management L.P. owned about 0.08% of Enerflex worth $55,819,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Acadian Asset Management LLC boosted its holdings in shares of Enerflex by 17,674.4% in the second quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock worth $81,000 after buying an additional 15,200 shares during the last quarter. Avidian Wealth Solutions LLC purchased a new stake in shares of Enerflex in the 1st quarter worth $90,000. Scotia Capital Inc. bought a new position in Enerflex in the 4th quarter worth $81,000. Fiera Capital Corp lifted its position in Enerflex by 117.0% during the second quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock valued at $134,000 after purchasing an additional 13,390 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Enerflex by 24.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company’s stock valued at $174,000 after purchasing an additional 6,325 shares during the period. 46.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EFXT. Royal Bank of Canada raised their price objective on Enerflex from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. National Bank Financial downgraded shares of Enerflex from a “strong-buy” rating to a “hold” rating in a report on Sunday, June 2nd. Finally, Acumen Capital raised shares of Enerflex to a “strong-buy” rating in a research note on Saturday, June 1st.

Enerflex Stock Performance

NYSE:EFXT opened at $5.76 on Monday. The stock has a 50-day moving average price of $5.62 and a 200 day moving average price of $5.55. The stock has a market capitalization of $714.50 million, a P/E ratio of -6.47 and a beta of 2.01. Enerflex Ltd. has a 12-month low of $3.94 and a 12-month high of $6.39. The company has a current ratio of 1.27, a quick ratio of 0.93 and a debt-to-equity ratio of 0.92.

Enerflex (NYSE:EFXT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Enerflex had a negative net margin of 4.25% and a negative return on equity of 1.86%. The company had revenue of $614.00 million for the quarter, compared to analysts’ expectations of $554.20 million. Equities research analysts forecast that Enerflex Ltd. will post 0.18 EPS for the current fiscal year.

Enerflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Thursday, August 22nd will be issued a $0.018 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.07 dividend on an annualized basis and a yield of 1.25%. Enerflex’s dividend payout ratio is currently -7.87%.

Enerflex Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.