Enerflex (NYSE:EFXT) Hits New 1-Year High - Time to Buy?

Key Points

• Enerflex hit a new 52-week high, trading as high as $24.08 and last at $23.79 (up ~1.4%) on ~47,342 shares, with 50-day/200-day moving averages of $20.69 and $16.43 signaling recent upward momentum.
• Analysts maintain a Moderate Buy consensus with a $25.75 average price target; notable broker action includes RBC raising its target to $26 and Zacks upgrading the stock to strong-buy.
• Company fundamentals: $2.88B market cap, P/E ~46.5, a modest 0.7% dividend yield ($0.17 annualized), and recent increases in holdings by hedge funds (e.g., Millennium, Goldman), with institutional ownership at 46.47%.

Enerflex Ltd. (NYSE:EFXT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $24.08 and last traded at $23.79, with a volume of 47342 shares trading hands. The stock had previously closed at $23.32.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EFXT. Weiss Ratings restated a "hold (c+)" rating on shares of Enerflex in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce restated a "neutral" rating and issued a $25.50 target price on shares of Enerflex in a report on Thursday. Wall Street Zen cut Enerflex from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 7th. Royal Bank Of Canada increased their price target on Enerflex from $20.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Zacks Research upgraded Enerflex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Enerflex currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

Enerflex Trading Up 1.4%

The firm has a market capitalization of $2.88 billion, a PE ratio of 46.46 and a beta of 1.83. The company has a current ratio of 1.13, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average price of $20.69 and a two-hundred day moving average price of $16.43.

Enerflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were paid a dividend of $0.0425 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.17 annualized dividend and a yield of 0.7%. Enerflex's dividend payout ratio is presently 23.53%.

Hedge Funds Weigh In On Enerflex

Several hedge funds have recently bought and sold shares of EFXT. Millennium Management LLC lifted its stake in Enerflex by 351.0% during the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company's stock worth $8,747,000 after acquiring an additional 880,358 shares in the last quarter. NewEdge Advisors LLC raised its position in Enerflex by 984.3% in the 1st quarter. NewEdge Advisors LLC now owns 22,791 shares of the company's stock valued at $176,000 after purchasing an additional 20,689 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Enerflex by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company's stock valued at $17,031,000 after purchasing an additional 752,893 shares in the last quarter. Geode Capital Management LLC raised its position in Enerflex by 28.1% in the 2nd quarter. Geode Capital Management LLC now owns 83,987 shares of the company's stock valued at $665,000 after purchasing an additional 18,434 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Enerflex by 8.3% in the 2nd quarter. Legal & General Group Plc now owns 155,243 shares of the company's stock valued at $1,223,000 after purchasing an additional 11,920 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company's stock.

Enerflex Company Profile

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.

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