Enerflex (NYSE:EFXT) Sets New 1-Year High - Here's What Happened

Key Points

• Enerflex reached a new 52-week high, trading as high as $24.24 and last at $24.069 with about 67,722 shares changing hands, a rise of roughly 5.2% on the session.
• Analysts carry a consensus "Moderate Buy" rating with a consensus target price of $25.75; RBC raised its target to $26 and CIBC to $25.50, with ratings ranging from Strong Buy to Hold.
• The company has a market cap of about $2.96 billion, recently paid a quarterly dividend equal to a $0.17 annualized payout (a yield of ~0.7% and DPR of 23.5%), and institutional investors now own ~46.5% after several firms materially increased their stakes.

Enerflex Ltd. (NYSE:EFXT - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.24 and last traded at $24.0690, with a volume of 67722 shares changing hands. The stock had previously closed at $23.13.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Enerflex in a report on Wednesday, January 21st. Royal Bank Of Canada raised their target price on Enerflex from $20.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, April 14th. Canadian Imperial Bank of Commerce lifted their price target on Enerflex from $16.75 to $25.50 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Wall Street Zen lowered Enerflex from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 7th. Finally, Zacks Research raised shares of Enerflex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Enerflex has an average rating of "Moderate Buy" and a consensus target price of $25.75.

Enerflex Stock Up 5.2%

The company has a market cap of $2.96 billion, a price-to-earnings ratio of 47.61 and a beta of 1.83. The business has a fifty day moving average of $21.12 and a two-hundred day moving average of $16.81. The company has a current ratio of 1.13, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Enerflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.0425 per share. The ex-dividend date was 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 (DPR) is 23.53%.

Institutional Trading of Enerflex

Several institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Enerflex by 0.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,735,102 shares of the company's stock valued at $61,841,000 after buying an additional 36,477 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Enerflex by 4.0% during the fourth quarter. Mackenzie Financial Corp now owns 4,878,942 shares of the company's stock valued at $76,327,000 after acquiring an additional 186,649 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Enerflex by 435.9% in the third quarter. Hillsdale Investment Management Inc. now owns 4,701,464 shares of the company's stock valued at $50,695,000 after acquiring an additional 3,824,093 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Enerflex by 51.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company's stock valued at $17,031,000 after acquiring an additional 752,893 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Enerflex by 31.8% in the fourth quarter. TD Asset Management Inc now owns 2,151,660 shares of the company's stock worth $33,215,000 after acquiring an additional 518,639 shares during the last quarter. 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.

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