Enerflex (NYSE:EFXT) Reaches New 12-Month Low – Here’s Why

Enerflex Ltd. (NYSE:EFXT) shares reached a new 52-week low on Friday. The company traded as low as $12.00 and last traded at $19.2830, with a volume of 443 shares traded. The stock had previously closed at $18.87.

Analysts Set New Price Targets

Several analysts recently issued reports on EFXT shares. 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 research note on Friday, October 30th. Weiss Ratings upgraded Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded Enerflex from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Zacks Research upgraded Enerflex from a “strong sell” rating to a “hold” rating in a research report on Friday, October 30th. Finally, Canadian Imperial Bank of Commerce set a $35.00 price target on Enerflex and gave the company an “outperform” rating in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Enerflex Stock Up 2.9%

The stock has a market capitalization of $2.37 billion, a P/E ratio of 33.54 and a beta of 1.79. The stock’s 50 day simple moving average is $23.12 and its 200 day simple moving average is $22.65. The company has a current ratio of 1.23, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48.

Enerflex (NYSE:EFXT) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. The firm had revenue of $623.00 million during the quarter, compared to the consensus estimate of $632.70 million. Enerflex had a net margin of 2.94% and a return on equity of 13.15%. As a group, research analysts predict that Enerflex Ltd. will post 1.42 EPS for the current fiscal year.

Enerflex Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be paid a C$0.04 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.14 annualized dividend and a dividend yield of 0.7%. This is a decrease from Enerflex’s previous quarterly dividend of C$0.04. Enerflex’s dividend payout ratio is presently 15.52%.

Institutional Trading of Enerflex

Several institutional investors have recently made changes to their positions in the stock. Cibc World Market Inc. purchased a new position in shares of Enerflex during the 2nd quarter valued at $15,851,000. Arrowstreet Capital Limited Partnership boosted its position in Enerflex by 240.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 466,627 shares of the company’s stock valued at $9,763,000 after purchasing an additional 329,469 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Enerflex by 21.0% in the first quarter. Public Employees Retirement System of Ohio now owns 408,015 shares of the company’s stock valued at $8,506,000 after purchasing an additional 70,818 shares in the last quarter. Bank of America Corp DE acquired a new position in Enerflex in the 2nd quarter worth about $30,569,000. Finally, TD Waterhouse Canada Inc. increased its position in Enerflex by 74.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock worth $13,170,000 after purchasing an additional 238,574 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Enerflex Company 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.