Royal Bank of Canada Issues Pessimistic Forecast for Enerflex (NYSE:EFXT) Stock Price

Enerflex (NYSE:EFXT) had its price target lowered by Royal Bank of Canada from $14.00 to $12.00 in a research note released on Thursday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Enerflex Trading Up 0.2 %

EFXT stock opened at $6.73 on Thursday. Enerflex has a twelve month low of $4.60 and a twelve month high of $10.61. The stock has a market capitalization of $834.91 million, a price-to-earnings ratio of -10.67 and a beta of 1.95. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. The firm’s fifty day simple moving average is $7.68 and its two-hundred day simple moving average is $8.32.

Enerflex Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.026 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Monday, March 10th. Enerflex’s dividend payout ratio (DPR) is currently 40.00%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Canoe Financial LP lifted its stake in shares of Enerflex by 10.2% during the 4th quarter. Canoe Financial LP now owns 8,276,972 shares of the company’s stock worth $82,342,000 after acquiring an additional 768,210 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Enerflex by 3,307.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,895,901 shares of the company’s stock worth $48,685,000 after purchasing an additional 4,752,201 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Enerflex during the fourth quarter worth $43,935,000. Bank of Montreal Can boosted its stake in shares of Enerflex by 44.4% during the fourth quarter. Bank of Montreal Can now owns 705,114 shares of the company’s stock valued at $7,010,000 after purchasing an additional 216,839 shares during the period. Finally, Two Sigma Investments LP grew its holdings in shares of Enerflex by 263.9% in the fourth quarter. Two Sigma Investments LP now owns 659,690 shares of the company’s stock worth $6,564,000 after purchasing an additional 478,407 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Company Profile

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.