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

Enerflex Ltd. (NYSE:EFXT)’s stock price gapped down prior to trading 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.

Wall Street Analyst Weigh In

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

Enerflex Price Performance

The business has a 50-day moving average price of $5.94 and a two-hundred day moving average price of $5.10. The company has a quick ratio of 0.91, a current ratio of 1.25 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $631.11 million, a price-to-earnings ratio of -7.71 and a beta of 2.20.

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 business had revenue of $574.61 million for the quarter, compared to analyst estimates of $583.70 million. As a group, research analysts anticipate that Enerflex Ltd. will post 0.47 EPS for the current year.

Enerflex Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, May 23rd will be issued a $0.018 dividend. This represents a $0.07 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, May 22nd. Enerflex’s dividend payout ratio is presently -10.61%.

Institutional Trading of Enerflex

A number of hedge funds have recently bought and sold shares of the business. Canoe Financial LP grew its stake in 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 purchasing an additional 10,454,383 shares during the period. 1832 Asset Management L.P. increased its holdings in Enerflex by 21.2% during the fourth quarter. 1832 Asset Management L.P. now owns 8,384,700 shares of the company’s stock worth $39,157,000 after buying an additional 1,464,300 shares during the last quarter. NewGen Asset Management Ltd raised its position in Enerflex by 19.1% in the fourth quarter. NewGen Asset Management Ltd now owns 2,186,200 shares of the company’s stock worth $10,210,000 after acquiring an additional 350,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Enerflex by 25.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,063,900 shares of the company’s stock worth $6,109,000 after purchasing an additional 213,300 shares during the period. Finally, Fiera Capital Corp raised its stake in shares of Enerflex by 24.4% in the third quarter. Fiera Capital Corp now owns 885,692 shares of the company’s stock valued at $5,100,000 after buying an additional 173,601 shares during the period. 46.47% of the stock is currently owned by 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.