Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Enerflex Ltd. $EFXT

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Enerflex Ltd. (NYSE:EFXT) by 9.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,698,625 shares of the company’s stock after selling 583,825 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 4.65% of Enerflex worth $45,015,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Mackenzie Financial Corp lifted its stake in Enerflex by 8.6% in the first quarter. Mackenzie Financial Corp now owns 4,977,243 shares of the company’s stock worth $38,459,000 after acquiring an additional 394,496 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Enerflex by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock worth $17,031,000 after purchasing an additional 752,893 shares during the period. TD Asset Management Inc boosted its stake in shares of Enerflex by 59.8% during the 1st quarter. TD Asset Management Inc now owns 1,891,990 shares of the company’s stock valued at $14,618,000 after purchasing an additional 708,153 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Enerflex by 61.7% during the first quarter. Acadian Asset Management LLC now owns 1,606,125 shares of the company’s stock valued at $12,395,000 after buying an additional 612,549 shares during the period. Finally, PCJ Investment Counsel Ltd. raised its stake in Enerflex by 10.2% in the second quarter. PCJ Investment Counsel Ltd. now owns 1,487,680 shares of the company’s stock worth $11,752,000 after buying an additional 137,950 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors.

Enerflex Trading Up 0.3%

Shares of NYSE EFXT opened at $13.41 on Monday. The company has a market cap of $1.64 billion, a PE ratio of 12.19 and a beta of 2.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.88 and a current ratio of 1.24. The firm’s 50 day moving average price is $11.27 and its 200-day moving average price is $9.10. Enerflex Ltd. has a 52-week low of $6.18 and a 52-week high of $13.74.

Enerflex (NYSE:EFXT) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). The business had revenue of $777.00 million during the quarter, compared to the consensus estimate of $682.88 million. Enerflex had a net margin of 5.43% and a return on equity of 12.35%. On average, equities research analysts expect that Enerflex Ltd. will post 0.25 EPS for the current fiscal year.

Enerflex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 1.3%. This is a boost from Enerflex’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Monday, November 17th. Enerflex’s payout ratio is 10.00%.

Wall Street Analyst Weigh In

EFXT has been the topic of several research reports. Zacks Research raised Enerflex from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Enerflex in a research note on Wednesday, October 8th. Wall Street Zen downgraded Enerflex from a “strong-buy” rating to a “buy” rating in a report on Saturday. Raymond James Financial restated an “outperform” rating on shares of Enerflex in a report on Friday, August 8th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Enerflex in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.13.

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.