Bank of Nova Scotia Raises Stock Position in Enerflex Ltd. $EFXT

Bank of Nova Scotia boosted its stake in Enerflex Ltd. (NYSE:EFXT) by 236.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,687 shares of the company’s stock after purchasing an additional 31,403 shares during the period. Bank of Nova Scotia’s holdings in Enerflex were worth $935,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of Wyoming lifted its holdings in shares of Enerflex by 34.9% during the 1st quarter. State of Wyoming now owns 30,604 shares of the company’s stock valued at $640,000 after buying an additional 7,925 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Enerflex by 33.5% in the first 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. Independent Financial Group LLC purchased a new stake in Enerflex during the first quarter valued at $221,000. Kathmere Capital Management LLC increased its position in Enerflex by 12.0% during the first quarter. Kathmere Capital Management LLC now owns 22,587 shares of the company’s stock valued at $473,000 after acquiring an additional 2,422 shares during the last quarter. Finally, Gunderson Capital Management LLC purchased a new stake in Enerflex during the first quarter valued at $203,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. BMO Capital Markets reissued an “outperform” rating on shares of Enerflex in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and set a $30.00 price target on shares of Enerflex in a research report on Friday, July 10th. Weiss Ratings upgraded shares of Enerflex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. National Bank Financial raised shares of Enerflex from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their target price on shares of Enerflex from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enerflex Price Performance

NYSE EFXT opened at $21.11 on Thursday. The company has a market capitalization of $2.58 billion, a PE ratio of 31.51 and a beta of 1.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.20. The business’s fifty day moving average is $24.34 and its 200 day moving average is $22.36. Enerflex Ltd. has a fifty-two week low of $7.59 and a fifty-two week high of $29.15.

Enerflex (NYSE:EFXT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The business had revenue of $584.00 million during the quarter, compared to analyst estimates of $607.26 million. Enerflex had a return on equity of 14.53% and a net margin of 3.19%. Sell-side analysts predict that Enerflex Ltd. will post 1.63 earnings per share for the current year.

Enerflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were given a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 20th. Enerflex’s payout ratio is presently 19.40%.

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.