Bank of Nova Scotia Buys New Position in Enerflex Ltd. $EFXT

Bank of Nova Scotia bought a new stake in shares of Enerflex Ltd. (NYSE:EFXT) in the 2nd quarter, HoldingsChannel reports. The firm bought 35,430 shares of the company’s stock, valued at approximately $870,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in shares of Enerflex during the 2nd quarter valued at $413,000. Caldwell Investment Management Ltd. purchased a new position in Enerflex in the second quarter worth $10,074,000. Virtus Advisers LLC bought a new position in Enerflex in the second quarter valued at $693,000. Tacita Capital Inc bought a new position in Enerflex in the second quarter valued at $1,204,000. Finally, K.J. Harrison & Partners Inc purchased a new stake in Enerflex during the second quarter valued at about $1,175,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Stock Performance

NYSE EFXT opened at $19.84 on Thursday. The company has a 50-day simple moving average of $22.68 and a two-hundred day simple moving average of $22.96. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 0.49. Enerflex Ltd. has a 12-month low of $9.76 and a 12-month high of $29.15. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 46.14 and a beta of 1.86.

Enerflex (NYSE:EFXT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). The company had revenue of $582.00 million for the quarter, compared to the consensus estimate of $606.78 million. Enerflex had a net margin of 2.06% and a return on equity of 11.76%. On average, equities analysts forecast that Enerflex Ltd. will post 1.34 EPS for the current year.

Enerflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, August 19th. Enerflex’s dividend payout ratio (DPR) is presently 27.91%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen cut Enerflex from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. National Bank Financial raised Enerflex from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce set a $27.50 target price on Enerflex in a research report on Monday, August 10th. Raymond James Financial upped their target price on Enerflex from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Finally, Royal Bank Of Canada increased their price target 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 research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.17.

Enerflex Company Profile

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.