Bank of Nova Scotia Purchases 31,403 Shares of Enerflex Ltd. $EFXT

Bank of Nova Scotia lifted its position in Enerflex Ltd. (NYSE:EFXT) by 236.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,687 shares of the company’s stock after purchasing an additional 31,403 shares during the period. Bank of Nova Scotia’s holdings in Enerflex were worth $935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC lifted its stake in shares of Enerflex by 351.0% during the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock valued at $8,747,000 after buying an additional 880,358 shares in the last quarter. Man Group plc increased its stake in Enerflex by 433.7% in the 2nd quarter. Man Group plc now owns 1,069,556 shares of the company’s stock worth $8,426,000 after buying an additional 869,156 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in 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 buying an additional 752,893 shares in the last quarter. TD Asset Management Inc raised its holdings in Enerflex by 31.8% during the fourth quarter. TD Asset Management Inc now owns 2,151,660 shares of the company’s stock valued at $33,215,000 after acquiring an additional 518,639 shares during the period. Finally, Fiera Capital Corp raised its holdings in Enerflex by 2,060.8% during the fourth quarter. Fiera Capital Corp now owns 536,529 shares of the company’s stock valued at $8,274,000 after acquiring an additional 511,699 shares during the period. 46.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EFXT shares. National Bank Financial upgraded Enerflex from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Raymond James Financial increased their target price on Enerflex from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. TD Securities reissued a “buy” rating on shares of Enerflex in a research note on Friday, May 8th. BMO Capital Markets reissued an “outperform” rating on shares of Enerflex in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating and issued a $30.00 price target on shares of Enerflex in a research note on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enerflex Stock Performance

EFXT opened at $21.11 on Thursday. 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 stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 31.51 and a beta of 1.83. The company has a fifty day moving average of $24.34 and a 200 day moving average of $22.36. Enerflex Ltd. has a fifty-two week low of $7.59 and a fifty-two week high of $29.15.

Enerflex (NYSE:EFXT) last announced 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. Enerflex had a net margin of 3.19% and a return on equity of 14.53%. The business had revenue of $584.00 million for the quarter, compared to analysts’ expectations of $607.26 million. As a group, sell-side analysts forecast that Enerflex Ltd. will post 1.63 earnings per share for the current fiscal year.

Enerflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were issued a $0.0425 dividend. This represents a $0.17 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 20th. Enerflex’s payout ratio is 19.40%.

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.