Enerflex (TSE:EFX) Stock Price Crosses 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)'s share price passed 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 Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Enerflex from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Raymond James Financial upped their target price on shares of Enerflex from C$17.75 to C$18.25 and gave the stock an "outperform" rating in a report on Friday, August 8th. 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 report on Friday, August 8th. Finally, ATB Capital boosted their price target on shares of Enerflex from C$16.50 to C$19.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$16.88.

Enerflex Price Performance

The firm's 50-day moving average price is C$12.31 and its 200-day moving average price is C$10.92. 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 stock has a market capitalization of C$1.78 billion, a PE ratio of 13.96 and a beta of 2.39.

Enerflex Announces Dividend

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

Insider Activity

In other news, Senior Officer Gregory Dean Stewart sold 10,130 shares of the company's 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. Corporate 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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