Enerflex (TSE:EFX) Trading 11.6% Higher - What's Next?

Key Points

• Enerflex Ltd. shares surged by 11.6% during mid-day trading, reaching a last traded price of C$12.36, despite a significant drop in trading volume.
• Several analysts have reduced their target prices for Enerflex, including TD Securities, which lowered its target from C$17.00 to C$15.00 while maintaining a "buy" rating.
• The company recently declared a quarterly dividend of $0.0375 per share, translating to an annual yield of 1.2%.

Shares of Enerflex Ltd. (TSE:EFX - Get Free Report) were up 11.6% during trading on Thursday . The company traded as high as C$12.72 and last traded at C$12.36. Approximately 82,968 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 491,941 shares. The stock had previously closed at C$11.08.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EFX shares. ATB Capital boosted their price objective on shares of Enerflex from C$16.50 to C$19.00 and gave the stock an "outperform" rating in a report on Friday. BMO Capital Markets boosted their price objective on shares of Enerflex from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a report on Friday. TD Securities boosted their price objective on shares of Enerflex from C$15.00 to C$17.00 and gave the stock a "buy" rating in a report on Friday. Finally, Raymond James Financial boosted their price objective on shares of Enerflex from C$17.75 to C$18.25 and gave the stock an "outperform" rating in a report on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Enerflex currently has an average rating of "Moderate Buy" and an average price target of C$16.88.

Enerflex Trading Up 0.2%

The company has a current ratio of 1.19, a quick ratio of 1.20 and a debt-to-equity ratio of 81.27. The company has a market cap of C$1.57 billion, a PE ratio of -13.68 and a beta of 1.71. The business's 50-day simple moving average is C$10.92 and its 200-day simple moving average is C$10.84.

Enerflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, September 2nd will be given a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 18th. Enerflex's dividend payout ratio (DPR) is currently -10.86%.

Insider Buying and Selling at Enerflex

In related news, Senior Officer Gregory Dean Stewart sold 10,130 shares of Enerflex stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of C$10.80, for a total transaction of C$109,437.43. Company insiders own 0.49% of the company's stock.

Enerflex Company Profile

Enerflex Ltd engineers, designs, manufactures and provides aftermarket support for equipment, systems, and turnkey facilities used to process and move natural gas from the wellhead to the pipeline. The company's focus is gas compression, where it offers a range of applications and gas inlet streams, from low-horsepower/low-pressure applications such as a coal seam gas and solution gas vapor recovery units to high-horsepower, centralized field, or processing plant compression.