Enerflex (NYSE:EFXT) Sets New 1-Year High – What’s Next?

Shares of Enerflex Ltd. (NYSE:EFXT) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.21 and last traded at $10.16, with a volume of 147658 shares trading hands. The stock had previously closed at $9.95.

Wall Street Analysts Forecast Growth

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

Enerflex Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. The business has a 50 day simple moving average of $8.63 and a 200 day simple moving average of $6.74. The stock has a market cap of $1.25 billion, a PE ratio of -16.02 and a beta of 2.21.

Enerflex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, November 26th will be issued a $0.0268 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.11 dividend on an annualized basis and a yield of 1.06%. This is an increase from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s dividend payout ratio is currently -17.46%.

Institutional Trading of Enerflex

Several large investors have recently added to or reduced their stakes in EFXT. B. Riley Wealth Advisors Inc. bought a new position in shares of Enerflex during the 3rd quarter valued at $65,000. Acadian Asset Management LLC lifted its position in shares of Enerflex by 17,674.4% in the second quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock worth $81,000 after buying an additional 15,200 shares during the last quarter. West Tower Group LLC bought a new stake in shares of Enerflex during the 3rd quarter worth about $119,000. Fiera Capital Corp increased its holdings in shares of Enerflex by 117.0% during the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock valued at $134,000 after acquiring an additional 13,390 shares during the last quarter. Finally, Net Worth Advisory Group bought a new position in shares of Enerflex in the 3rd quarter valued at approximately $146,000. 46.47% of the stock is owned by institutional investors.

About Enerflex

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.