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

Shares of Enerflex Ltd. (NYSE:EFXT) 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 changing hands.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets upgraded Enerflex from a “market perform” rating to an “outperform” rating in a report on Thursday, February 29th.

Enerflex Stock Down 20.8 %

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.25 and a quick ratio of 0.91. The stock has a market capitalization of $600.11 million, a P/E ratio of -7.70 and a beta of 2.20. The stock’s fifty day moving average is $5.97 and its two-hundred day moving average is $5.10.

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

Enerflex Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EFXT. Canoe Financial LP lifted its position in shares of Enerflex by 105.2% in the 4th 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 in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Enerflex by 21.2% in the fourth quarter. 1832 Asset Management L.P. now owns 8,384,700 shares of the company’s stock valued at $39,157,000 after purchasing an additional 1,464,300 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Enerflex in the fourth quarter worth $2,279,000. NewGen Asset Management Ltd grew its holdings in shares of Enerflex by 19.1% during the fourth quarter. NewGen Asset Management Ltd now owns 2,186,200 shares of the company’s stock valued at $10,210,000 after buying an additional 350,000 shares in the last quarter. Finally, Hartree Partners LP acquired a new position in Enerflex during the first quarter valued at $1,458,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

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.