Enerflex (NYSE:EFXT) Shares Down 6.3% – What’s Next?

Enerflex Ltd. (NYSE:EFXT)’s share price fell 6.3% during mid-day trading on Wednesday . The stock traded as low as $25.39 and last traded at $25.3820. 198,141 shares traded hands during trading, a decline of 67% from the average session volume of 600,057 shares. The stock had previously closed at $27.08.

Analysts Set New Price Targets

A number of brokerages have recently commented on EFXT. National Bank Financial upgraded shares of Enerflex from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 7th. BMO Capital Markets restated an “outperform” rating on shares of Enerflex in a research report on Friday, May 8th. TD Securities reaffirmed a “buy” rating on shares of Enerflex in a research note on Friday, May 8th. Zacks Research raised Enerflex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating and set a $28.00 price objective on shares of Enerflex in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Enerflex Stock Performance

The company’s fifty day moving average price is $23.98 and its two-hundred day moving average price is $19.26. 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 firm has a market capitalization of $3.09 billion, a PE ratio of 37.78 and a beta of 1.93.

Enerflex (NYSE:EFXT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $584.00 million during the quarter, compared to analyst estimates of $607.26 million. Enerflex had a net margin of 3.19% and a return on equity of 14.53%. As a group, equities analysts expect that Enerflex Ltd. will post 1.68 earnings per share for the current year.

Enerflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be issued a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, May 20th. Enerflex’s dividend payout ratio is presently 17.91%.

Institutional Investors Weigh In On Enerflex

A number of institutional investors have recently added to or reduced their stakes in EFXT. Hillsdale Investment Management Inc. grew its position in Enerflex by 435.9% during the third quarter. Hillsdale Investment Management Inc. now owns 4,701,464 shares of the company’s stock valued at $50,695,000 after acquiring an additional 3,824,093 shares during the period. Millennium Management LLC lifted its stake in shares of Enerflex by 351.0% in the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock valued at $8,747,000 after purchasing an additional 880,358 shares in the last quarter. Man Group plc lifted its stake in shares of Enerflex by 433.7% in the 2nd quarter. Man Group plc now owns 1,069,556 shares of the company’s stock valued at $8,426,000 after purchasing an additional 869,156 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Enerflex by 51.9% during 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. Finally, TD Asset Management Inc grew its holdings in shares of Enerflex by 31.8% during the 4th quarter. TD Asset Management Inc now owns 2,151,660 shares of the company’s stock worth $33,215,000 after purchasing an additional 518,639 shares during the period. Hedge funds and other institutional investors own 46.47% of the company’s stock.

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.