PCJ Investment Counsel Ltd. Grows Stake in Enerflex Ltd. (NYSE:EFXT)

PCJ Investment Counsel Ltd. boosted its position in Enerflex Ltd. (NYSE:EFXT - Free Report) by 14.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,237,750 shares of the company's stock after acquiring an additional 152,990 shares during the quarter. Enerflex accounts for about 2.3% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 10th biggest holding. PCJ Investment Counsel Ltd. owned 1.00% of Enerflex worth $7,376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TD Asset Management Inc lifted its holdings in shares of Enerflex by 1.9% during the 2nd quarter. TD Asset Management Inc now owns 152,701 shares of the company's stock valued at $824,000 after purchasing an additional 2,789 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Enerflex by 24.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company's stock worth $174,000 after purchasing an additional 6,325 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Enerflex by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 179,088 shares of the company's stock worth $965,000 after acquiring an additional 7,700 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Enerflex by 15.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 76,413 shares of the company's stock worth $455,000 after acquiring an additional 9,975 shares during the last quarter. Finally, Fiera Capital Corp grew its stake in shares of Enerflex by 117.0% in the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company's stock worth $134,000 after buying an additional 13,390 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada increased their price objective on shares of Enerflex from $9.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, November 15th.

Enerflex Price Performance

Shares of Enerflex stock traded up $0.16 on Wednesday, hitting $8.94. 238,466 shares of the company traded hands, compared to its average volume of 188,923. The firm's 50-day simple moving average is $6.56 and its 200 day simple moving average is $5.79. The company has a market cap of $1.11 billion, a P/E ratio of -13.92 and a beta of 1.89. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. Enerflex Ltd. has a 12-month low of $4.01 and a 12-month high of $9.02.

Enerflex Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.0268 per share. This is a boost from Enerflex's previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, November 26th. This represents a $0.11 annualized dividend and a dividend yield of 1.20%. Enerflex's payout ratio is presently -17.46%.

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.