Enerflex (NYSE:EFXT) Sets New 12-Month High - Here's Why

Key Points

• Shares of Enerflex Ltd. reached a new 52-week high of $11.27, closing at $11.04 with a trading volume of 408,469 shares.
• The company reported earnings per share of $0.49 for the recent quarter, significantly beating analyst expectations of $0.07, alongside a revenue of $615 million.
• Enerflex recently increased its quarterly dividend from $0.03 to $0.0375, representing a 1.4% dividend yield and a payout ratio of 10.58%.

Shares of Enerflex Ltd. (NYSE:EFXT - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $11.27 and last traded at $11.04, with a volume of 408469 shares traded. The stock had previously closed at $10.93.

Analysts Set New Price Targets

A number of analysts have commented on EFXT shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. 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 lifted their target price on shares of Enerflex from $12.00 to $13.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Enerflex in a report 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, Enerflex presently has an average rating of "Moderate Buy" and a consensus target price of $11.13.

Enerflex Stock Up 1.0%

The company has a market cap of $1.35 billion, a price-to-earnings ratio of 10.61 and a beta of 2.01. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average price is $9.40 and its 200-day moving average price is $8.03.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $555.24 million. Sell-side analysts predict that Enerflex Ltd. will post 0.25 earnings per share for the current year.

Enerflex Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.0375 dividend. This is a positive change from Enerflex's previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.15 annualized dividend and a dividend yield of 1.4%. Enerflex's dividend payout ratio (DPR) is presently 10.58%.

Hedge Funds Weigh In On Enerflex

Several institutional investors and hedge funds have recently made changes to their positions in the company. D Orazio & Associates Inc. acquired a new position in Enerflex in the 2nd quarter worth $80,000. Vise Technologies Inc. acquired a new position in Enerflex in the 2nd quarter worth $85,000. Baron Wealth Management LLC boosted its stake in Enerflex by 31.7% in the 2nd quarter. Baron Wealth Management LLC now owns 15,215 shares of the company's stock worth $120,000 after purchasing an additional 3,666 shares during the period. Bank of New York Mellon Corp acquired a new position in Enerflex in the 1st quarter worth $130,000. Finally, Toronto Dominion Bank acquired a new position in Enerflex in the 4th quarter worth $208,000. Institutional investors and hedge funds own 46.47% of the company's stock.

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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