Enerflex (NYSE:EFXT) Shares Gap Down to $6.11

Enerflex Ltd. (NYSE:EFXT)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $6.11, but opened at $5.55. Enerflex shares last traded at $5.05, with a volume of 183,007 shares traded.

Analysts Set New Price Targets

Separately, BMO Capital Markets raised shares of Enerflex from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 29th.

Enerflex Trading Down 20.8 %

The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 1.25. The business has a fifty day simple moving average of $5.97 and a 200 day simple moving average of $5.10. The stock has a market cap of $600.11 million, a price-to-earnings ratio of -7.70 and a beta of 2.20.

Enerflex (NYSE:EFXT) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.16). Enerflex had a negative net margin of 3.47% and a positive return on equity of 0.11%. The company had revenue of $574.61 million for the quarter, compared to analyst estimates of $583.70 million. As a group, equities analysts anticipate that Enerflex Ltd. will post 0.47 EPS for the current year.

Enerflex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, March 13th were given a $0.0184 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 1.52%. This is an increase from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s payout ratio is currently -10.61%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EFXT. Canoe Financial LP boosted its holdings in Enerflex by 105.2% in the fourth quarter. Canoe Financial LP now owns 20,393,814 shares of the company’s stock valued at $95,239,000 after acquiring an additional 10,454,383 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Enerflex by 21.2% during the 4th quarter. 1832 Asset Management L.P. now owns 8,384,700 shares of the company’s stock worth $39,157,000 after purchasing an additional 1,464,300 shares during the period. NewGen Asset Management Ltd increased its position in Enerflex by 19.1% during the 4th quarter. NewGen Asset Management Ltd now owns 2,186,200 shares of the company’s stock worth $10,210,000 after purchasing an additional 350,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Enerflex by 25.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,063,900 shares of the company’s stock valued at $6,109,000 after buying an additional 213,300 shares during the period. Finally, Fiera Capital Corp lifted its position in Enerflex by 24.4% during the third quarter. Fiera Capital Corp now owns 885,692 shares of the company’s stock valued at $5,100,000 after buying an additional 173,601 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

About Enerflex

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.