Enerflex (NYSE:EFXT) Stock Price Down 11.4% – What’s Next?

Enerflex Ltd. (NYSE:EFXT) dropped 11.4% on Wednesday . The stock traded as low as $17.32 and last traded at $17.3110. Approximately 335,762 shares were traded during trading, a decline of 27% from the average daily volume of 462,831 shares. The stock had previously closed at $19.53.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen raised shares of Enerflex from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Raymond James Financial cut shares of Enerflex from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday. Zacks Research raised shares of Enerflex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of Enerflex in a research note on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Enerflex in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.63.

Enerflex Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.24 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $15.68 and a 200 day moving average price of $12.51. The stock has a market cap of $2.11 billion, a PE ratio of 15.78 and a beta of 1.95.

Enerflex (NYSE:EFXT) last issued its earnings results on Thursday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). Enerflex had a return on equity of 12.35% and a net margin of 5.43%.The business had revenue of $777.00 million for the quarter, compared to the consensus estimate of $682.88 million. As a group, research analysts forecast that Enerflex Ltd. will post 0.25 earnings per share for the current year.

Enerflex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Enerflex’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Monday, November 17th. Enerflex’s payout ratio is presently 10.91%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its position in shares of Enerflex by 351.0% during the first 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 during the last quarter. NewEdge Advisors LLC grew its stake in Enerflex by 984.3% during the 1st quarter. NewEdge Advisors LLC now owns 22,791 shares of the company’s stock worth $176,000 after buying an additional 20,689 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Enerflex by 51.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after buying an additional 752,893 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Enerflex in the second quarter valued at about $1,431,000. Finally, Allianz Asset Management GmbH purchased a new stake in Enerflex in the second quarter valued at about $1,718,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

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.