Enerflex (NYSE:EFXT) Reaches New 1-Year High – Here’s Why

Shares of Enerflex Ltd. (NYSE:EFXT) reached a new 52-week high during trading on Monday . The stock traded as high as $23.76 and last traded at $23.6250, with a volume of 226264 shares trading hands. The stock had previously closed at $22.40.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EFXT shares. Zacks Research lowered shares of Enerflex from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Wall Street Zen cut Enerflex from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Raymond James Financial lowered Enerflex from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Enerflex in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Enerflex in a report on Thursday, January 15th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.63.

Enerflex Trading Up 4.1%

The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 45.77 and a beta of 1.84. The company’s 50-day moving average price is $17.28 and its 200-day moving average price is $13.87. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Enerflex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.0425 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.7%. Enerflex’s dividend payout ratio is presently 23.53%.

Institutional Investors Weigh In On Enerflex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC acquired a new position in Enerflex during the fourth quarter worth about $31,000. Plato Investment Management Ltd lifted its position in Enerflex by 399.4% during the fourth quarter. Plato Investment Management Ltd now owns 4,664 shares of the company’s stock worth $72,000 after buying an additional 3,730 shares in the last quarter. D Orazio & Associates Inc. acquired a new position in Enerflex during the second quarter worth $80,000. Vise Technologies Inc. acquired a new stake in shares of Enerflex in the 2nd quarter worth $85,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Enerflex in the fourth quarter valued at about $119,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

About Enerflex

Enerflex Ltd is a Calgary‐headquartered energy infrastructure company specializing in the design, fabrication, installation and aftermarket support of natural gas compression, processing, refrigeration and treatment equipment. Its product portfolio includes reciprocating and centrifugal compression systems, gas treating and refrigeration packages, fuel gas conditioning and liquid separation solutions. In addition to equipment sales, Enerflex delivers field services such as commissioning, maintenance, monitoring and parts supply to optimize asset performance throughout the lifecycle.

The company supports upstream, midstream and downstream energy customers through an integrated offering that spans engineering, procurement and construction (EPC) as well as modular fabrication.