Enerflex (NYSE:EFXT) Reaches New 52-Week High - Still a Buy?

Key Points

• Enerflex Ltd. reached a new 52-week high of $11.43, trading at $11.28 with a total volume of 51,360 shares exchanged.
• Several analysts upgraded their ratings on Enerflex, with Royal Bank of Canada raising the target price from $13.00 to $15.00 and confirming an "outperform" rating.
• The company recently increased its dividend from $0.03 to $0.0375 per share, indicating a positive shift with a current annual yield of 1.3%.

Enerflex Ltd. (NYSE:EFXT - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $11.43 and last traded at $11.28, with a volume of 51360 shares changing hands. The stock had previously closed at $10.98.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EFXT. BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Enerflex in a report on Saturday, September 27th. Wall Street Zen raised shares of Enerflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Royal Bank Of Canada boosted their target price on shares of Enerflex from $13.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, September 25th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Enerflex in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.13.

Enerflex Trading Up 2.6%

The stock has a market capitalization of $1.38 billion, a PE ratio of 10.83 and a beta of 2.01. The company's 50 day moving average price is $9.81 and its two-hundred day moving average price is $8.20. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.19 and a quick ratio of 0.88.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.42. Enerflex had a net margin of 5.54% and a return on equity of 10.21%. The company had revenue of $615.00 million during the quarter, compared to analysts' expectations of $555.24 million. As a group, analysts expect that Enerflex Ltd. will post 0.25 earnings per share for the current year.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.0375 per share. The ex-dividend date was Monday, August 18th. This is a positive change from Enerflex's previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a yield of 1.3%. Enerflex's dividend payout ratio (DPR) is 10.58%.

Institutional Investors Weigh In On Enerflex

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in Enerflex in the 1st quarter valued at about $130,000. Envestnet Asset Management Inc. acquired a new position in Enerflex in the first quarter valued at approximately $863,000. Y Intercept Hong Kong Ltd acquired a new position in Enerflex in the first quarter valued at approximately $303,000. TD Asset Management Inc grew its position in Enerflex by 59.8% in the first quarter. TD Asset Management Inc now owns 1,891,990 shares of the company's stock worth $14,618,000 after acquiring an additional 708,153 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Enerflex by 21.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,096 shares of the company's stock worth $302,000 after acquiring an additional 6,793 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Enerflex Company Profile

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.

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