Enerflex (TSE:EFX) Shares Up 11.6% - Here's Why

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%.

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

Analyst Ratings Changes

EFX has been the topic of a number of research analyst reports. TD Securities decreased their target price on Enerflex from C$17.00 to C$15.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. ATB Capital decreased their price objective on Enerflex from C$18.00 to C$16.50 and set an "outperform" rating for the company in a report on Monday, May 5th. Finally, BMO Capital Markets dropped their price objective on shares of Enerflex from C$15.00 to C$14.00 in a report on Thursday, April 17th.

Enerflex Stock Performance

The company has a debt-to-equity ratio of 81.27, a current ratio of 1.19 and a quick ratio of 1.20. The company's 50-day moving average price is C$10.76 and its two-hundred day moving average price is C$10.95. The company has a market capitalization of C$1.52 billion, a price-to-earnings ratio of -13.26 and a beta of 1.71.

Enerflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, June 3rd were given a dividend of $0.0375 per share. The ex-dividend date was Wednesday, May 21st. This represents a $0.15 dividend on an annualized basis and a yield of 1.2%. Enerflex's payout ratio is currently -10.86%.

Insider Buying and Selling at Enerflex

In related news, Senior Officer Gregory Dean Stewart sold 10,130 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of C$10.80, for a total value of C$109,437.43. 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.

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