PCJ Investment Counsel Ltd. Purchases 152,990 Shares of Enerflex Ltd. (NYSE:EFXT)

PCJ Investment Counsel Ltd. lifted its position in shares of Enerflex Ltd. (NYSE:EFXT) by 14.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,237,750 shares of the company’s stock after purchasing an additional 152,990 shares during the period. Enerflex comprises approximately 2.3% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 10th largest holding. PCJ Investment Counsel Ltd.’s holdings in Enerflex were worth $7,376,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EFXT. TD Asset Management Inc raised its position in shares of Enerflex by 1.9% in the 2nd quarter. TD Asset Management Inc now owns 152,701 shares of the company’s stock worth $824,000 after acquiring an additional 2,789 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 acquiring an additional 6,325 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Enerflex by 4.5% in the 2nd 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 raised its position in shares of Enerflex by 15.0% in 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 in the last quarter. Finally, Fiera Capital Corp raised its position 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 acquiring an additional 13,390 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lifted their price objective on Enerflex from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

Enerflex Stock Performance

Shares of Enerflex stock opened at $8.77 on Wednesday. Enerflex Ltd. has a one year low of $4.01 and a one year high of $8.96. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -13.92 and a beta of 1.89. The business has a 50-day simple moving average of $6.56 and a 200 day simple moving average of $5.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88.

Enerflex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, November 26th will be given a $0.0268 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Enerflex’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, November 26th. 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.