Enerflex Ltd. (NYSE:EFXT) Stock Short Interest Climbs 68.1%

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

Analyst Ratings Changes

Several research analysts have issued reports on EFXT shares. Wall Street Zen upgraded Enerflex from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research raised Enerflex from a “strong sell” rating to a “hold” rating in a research note on Friday, October 30th. Acumen Capital upgraded Enerflex to a “strong-buy” rating in a report on Friday, October 2nd. BMO Capital Markets reissued an “outperform” rating on shares of Enerflex in a research note on Friday, October 16th. Finally, Canadian Imperial Bank of Commerce set a $35.00 price objective on Enerflex and gave the company an “outperform” rating in a report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Institutional Trading of Enerflex

Institutional investors and hedge funds have recently modified their holdings of the stock. Cibc World Market Inc. bought a new position in shares of Enerflex during the 2nd quarter worth $15,851,000. Arrowstreet Capital Limited Partnership increased its stake 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 buying an additional 329,469 shares during the period. Public Employees Retirement System of Ohio raised its holdings 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 valued at $8,506,000 after acquiring an additional 70,818 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Enerflex in the second quarter valued at about $30,569,000. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Enerflex by 74.7% in the second quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock valued at $13,170,000 after acquiring an additional 238,574 shares in the last quarter. Institutional investors own 46.47% of the company’s stock.

Enerflex Trading Up 5.1%

NYSE EFXT opened at $23.36 on Wednesday. The stock has a market cap of $2.85 billion, a PE ratio of 40.28 and a beta of 1.79. Enerflex has a 12 month low of $12.54 and a 12 month high of $29.15. The company’s 50-day moving average price is $23.13 and its 200-day moving average price is $22.61. The company has a current ratio of 1.23, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48.

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

Enerflex Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be given a dividend of C$0.04 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.6%. This is a drop from Enerflex’s previous quarterly dividend of C$0.04. The ex-dividend date of this dividend is Thursday, November 12th. Enerflex’s dividend payout ratio is 20.69%.

Enerflex Company Profile

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.