Enerflex (TSE:EFX) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Enerflex Ltd. (TSE:EFX) saw its share price cross above its 200-day moving average, reaching up to C$14.53 compared to the average of C$10.92.
• Several analysts increased their target prices for Enerflex, with notable raises from BMO Capital Markets to C$16.00 and Raymond James to C$18.25, all maintaining an "outperform" rating.
• The company announced a quarterly dividend of $0.0375 per share, resulting in an annualized dividend of $0.15 and a yield of 1.0%.

Enerflex Ltd. (TSE:EFX - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.92 and traded as high as C$14.53. Enerflex shares last traded at C$14.52, with a volume of 635,960 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EFX. TD Securities upped their target price on shares of Enerflex from C$15.00 to C$17.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Raymond James Financial upped their price objective on Enerflex from C$17.75 to C$18.25 and gave the stock an "outperform" rating in a research report on Friday, August 8th. ATB Capital lifted their target price on Enerflex from C$16.50 to C$19.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, BMO Capital Markets boosted their target price on Enerflex from C$15.00 to C$16.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Enerflex presently has a consensus rating of "Moderate Buy" and an average price target of C$16.88.

Enerflex Trading Down 0.9%

The business's 50 day simple moving average is C$12.54 and its two-hundred day simple moving average is C$10.98. The stock has a market cap of C$1.80 billion, a P/E ratio of 14.13 and a beta of 2.39. The company has a quick ratio of 1.20, a current ratio of 1.19 and a debt-to-equity ratio of 81.27.

Enerflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, September 2nd were paid a $0.0375 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.15 annualized dividend and a yield of 1.0%. Enerflex's payout ratio is 9.50%.

Insider Activity

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. 0.49% of the stock is owned by company insiders.

About Enerflex

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.