Enerflex Ltd. $EFXT Stock: Hennessy Advisors Inc. Decreases Holdings

Hennessy Advisors Inc. lessened its stake in Enerflex Ltd. (NYSE:EFXT) by 8.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 316,000 shares of the company’s stock after selling 30,800 shares during the quarter. Hennessy Advisors Inc. owned about 0.26% of Enerflex worth $7,202,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. bought a new position in Enerflex in the second quarter valued at about $30,000. Integrated Wealth Concepts LLC bought a new position in shares of Enerflex in the second quarter worth about $79,000. Deutsche Bank AG bought a new position in shares of Enerflex in the second quarter worth about $158,000. Wellington Altus USA Inc. bought a new position in shares of Enerflex in the second quarter worth about $185,000. Finally, Independent Financial Group LLC acquired a new stake in shares of Enerflex in the 1st quarter valued at approximately $221,000. 46.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EFXT has been the subject of a number of research reports. Royal Bank Of Canada dropped their price objective on shares of Enerflex from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Friday. Weiss Ratings upgraded shares of Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Canadian Imperial Bank of Commerce set a $35.00 target price on shares of Enerflex and gave the stock an “outperform” rating in a report on Tuesday, October 13th. BMO Capital Markets restated an “outperform” rating on shares of Enerflex in a research report on Friday, October 16th. Finally, Wall Street Zen raised shares of Enerflex from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Enerflex Price Performance

EFXT opened at $23.64 on Monday. The firm has a 50-day moving average of $23.02 and a 200 day moving average of $22.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.23. Enerflex Ltd. has a fifty-two week low of $12.46 and a fifty-two week high of $29.15. The firm has a market cap of $2.89 billion, a P/E ratio of 40.76 and a beta of 1.79.

Enerflex (NYSE:EFXT) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.12. Enerflex had a return on equity of 13.15% and a net margin of 2.94%. The company had revenue of $623.00 million during the quarter, compared to analyst estimates of $632.70 million. On average, research analysts expect that Enerflex Ltd. will post 1.42 EPS for the current year.

Enerflex Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Thursday, November 12th will be given a dividend of C$0.04 per share. This is a drop from Enerflex’s previous quarterly dividend of C$0.04. This represents a $0.14 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, November 12th. Enerflex’s dividend payout ratio is presently 20.69%.

Enerflex Profile

Enerflex Ltd. (NYSE: EFXT) is a Calgary-based energy infrastructure company that provides equipment, services and solutions for the processing, compression and transportation of natural gas. Its offerings support energy producers, midstream operators and industrial customers across the natural gas value chain.

The company designs, engineers, manufactures, commissions and services natural gas compression systems, gas processing and treating facilities, refrigeration and cryogenic systems, and electric power generation equipment.