Enerflex (NYSE:EFXT) Price Target Raised to $35.00

Enerflex (NYSE:EFXT) had its price target hoisted by Royal Bank Of Canada from $33.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

EFXT has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce set a $35.00 price objective on shares of Enerflex and gave the stock an “outperform” rating in a report on Tuesday. Acumen Capital raised shares of Enerflex to a “strong-buy” rating in a report on Friday, October 2nd. Wall Street Zen cut shares of Enerflex from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Zacks Research cut shares of Enerflex from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.67.

Enerflex Trading Up 1.9%

Shares of NYSE:EFXT opened at $24.90 on Wednesday. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 22.22 and a beta of 1.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19. The stock’s 50-day simple moving average is $22.51 and its two-hundred day simple moving average is $23.57. Enerflex has a 52-week low of $10.57 and a 52-week high of $29.15.

Enerflex (NYSE:EFXT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). Enerflex had a net margin of 2.06% and a return on equity of 11.76%. The firm had revenue of $582.00 million for the quarter, compared to the consensus estimate of $606.78 million. Analysts expect that Enerflex will post 1.32 EPS for the current year.

Enerflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a C$0.04 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. Enerflex’s dividend payout ratio is presently 27.91%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enerflex during the 2nd quarter valued at about $330,515,000. Bank of America Corp DE increased its holdings in Enerflex by 51.4% in the 1st quarter. Bank of America Corp DE now owns 1,293,472 shares of the company’s stock worth $27,059,000 after acquiring an additional 438,920 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Enerflex by 33.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,208,011 shares of the company’s stock worth $25,268,000 after acquiring an additional 303,398 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Enerflex in the 2nd quarter worth approximately $15,851,000. Finally, TD Waterhouse Canada Inc. raised its stake in Enerflex by 74.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock worth $13,170,000 after acquiring an additional 238,574 shares during the period. Institutional investors own 46.47% of the company’s stock.

Enerflex Company Profile

Enerflex Ltd. (NYSE: EFXT) is a global provider of natural gas infrastructure and energy solutions. The company designs, engineers, manufactures, commissions and operates equipment and facilities used to process, compress, treat and transport natural gas and other hydrocarbons.

Its products and services include natural gas compression, gas processing and treating systems, refrigeration and power-generation equipment, and related engineering, procurement and construction services. Enerflex also provides aftermarket support, including parts, maintenance, technical services and contract operations for energy infrastructure.

Headquartered in Calgary, Alberta, Enerflex serves energy producers and infrastructure operators across multiple international markets, including North America, Latin America, the Middle East and Australia.