Taconic Capital Advisors LP Acquires 465,000 Shares of Enerflex Ltd. (NYSE:EFXT)

Taconic Capital Advisors LP raised its holdings in Enerflex Ltd. (NYSE:EFXT) by 35.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,771,800 shares of the company’s stock after buying an additional 465,000 shares during the quarter. Enerflex accounts for 5.6% of Taconic Capital Advisors LP’s investment portfolio, making the stock its 4th largest holding. Taconic Capital Advisors LP’s holdings in Enerflex were worth $10,559,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. raised its position in shares of Enerflex by 16.1% during the second quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock worth $55,819,000 after purchasing an additional 1,435,900 shares during the period. Mackenzie Financial Corp raised its position in shares of Enerflex by 57.9% during the second quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company’s stock worth $23,631,000 after purchasing an additional 1,606,236 shares during the period. PCJ Investment Counsel Ltd. raised its position in shares of Enerflex by 14.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock worth $7,376,000 after purchasing an additional 152,990 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its position in shares of Enerflex by 3.0% during the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,036,274 shares of the company’s stock worth $6,175,000 after purchasing an additional 29,830 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Enerflex by 16.3% during the second quarter. Clearbridge Investments LLC now owns 567,366 shares of the company’s stock worth $3,064,000 after purchasing an additional 79,419 shares during the period. 46.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Enerflex Stock Performance

Shares of Enerflex stock opened at $9.25 on Friday. The stock has a fifty day simple moving average of $7.02 and a 200 day simple moving average of $5.95. Enerflex Ltd. has a 12-month low of $4.01 and a 12-month high of $9.53. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be paid a $0.0268 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Tuesday, November 26th. This is an increase from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s dividend payout ratio is -17.46%.

Enerflex 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.