Enerflex (NYSE:EFXT) Reaches New 52-Week High – What’s Next?

Shares of Enerflex Ltd. (NYSE:EFXT) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.88 and last traded at $9.82, with a volume of 57337 shares traded. The stock had previously closed at $9.83.

Analysts Set New Price Targets

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

Enerflex Trading Down 1.0 %

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 stock’s 50 day moving average is $8.42 and its 200-day moving average is $6.62. The company has a market cap of $1.21 billion, a PE ratio of -15.41 and a beta of 2.21.

Enerflex Increases Dividend

The firm also recently announced 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 represents a $0.11 annualized dividend and a dividend yield of 1.10%. This is a boost from Enerflex’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, November 26th. Enerflex’s dividend payout ratio is currently -17.46%.

Institutional Investors Weigh In On Enerflex

Several large investors have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. raised its stake in shares of Enerflex by 16.1% in the second quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock valued at $55,819,000 after acquiring an additional 1,435,900 shares during the period. Mackenzie Financial Corp raised its position in Enerflex by 57.9% in the 2nd 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. Taconic Capital Advisors LP raised its position in Enerflex by 35.6% in the 3rd quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock worth $10,559,000 after purchasing an additional 465,000 shares during the period. PCJ Investment Counsel Ltd. lifted its stake in Enerflex by 14.1% in 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 last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted 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 valued at $6,175,000 after buying an additional 29,830 shares during the period. 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.