Enerflex (NYSE:EFXT) Reaches New 52-Week High - Time to Buy?

Key Points

• Enerflex Ltd. reached a new 52-week high of $11.70, with a current trading price at $11.52 and over 535,000 shares exchanged during the day.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Enerflex, with price targets varying from $12.13 to $15.00.
• Enerflex recently increased its quarterly dividend to $0.0375, representing a 1.3% yield, reflecting a boost from the previous dividend amount.

Enerflex Ltd. (NYSE:EFXT - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.70 and last traded at $11.52, with a volume of 535235 shares changing hands. The stock had previously closed at $11.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EFXT shares. Royal Bank Of Canada increased their price target on Enerflex from $13.00 to $15.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Enerflex in a research note on Wednesday. BMO Capital Markets reissued an "outperform" rating on shares of Enerflex in a research note on Friday, August 8th. Zacks Research raised Enerflex from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Wall Street Zen raised Enerflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Enerflex presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.13.

Enerflex Trading Up 0.9%

The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 11.17 and a beta of 2.01. The company has a 50-day moving average price of $10.07 and a 200 day moving average price of $8.31. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.65.

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

Enerflex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 1.3%. This is a boost from Enerflex's previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Monday, August 18th. Enerflex's payout ratio is 10.58%.

Institutional Trading of Enerflex

Hedge funds and other institutional investors have recently modified their holdings of the company. D Orazio & Associates Inc. purchased a new stake in shares of Enerflex during the second quarter worth $80,000. Vise Technologies Inc. purchased a new stake in shares of Enerflex during the second quarter worth $85,000. Baron Wealth Management LLC raised its holdings in shares of Enerflex by 31.7% during the second quarter. Baron Wealth Management LLC now owns 15,215 shares of the company's stock worth $120,000 after acquiring an additional 3,666 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Enerflex during the first quarter worth $130,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Enerflex by 984.3% during the first quarter. NewEdge Advisors LLC now owns 22,791 shares of the company's stock worth $176,000 after acquiring an additional 20,689 shares in the last quarter. 46.47% of the stock is currently owned by hedge funds and other 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.

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