Enerflex (TSE:EFX) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Enerflex shares rose above their 200-day moving average, reaching C$35.06 before closing at C$34.72, up 2.2% during trading.
• Analysts became more bullish, with several firms raising price targets and CIBC upgrading the stock to “strong buy.” Enerflex has an overall “Buy” rating and an average target of C$40.53.
• The company increased its quarterly dividend to C$0.045 per share, equivalent to an annualized C$0.18 dividend and a 0.5% yield.

Shares of Enerflex Ltd. (TSE:EFX - Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$33.05 and traded as high as C$35.06. Enerflex shares last traded at C$34.72, with a volume of 381,088 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on the stock. ATB Cormark Capital Markets upped their price target on shares of Enerflex from C$52.00 to C$56.00 and gave the company an "outperform" rating in a research report on Wednesday, October 14th. Raymond James Financial lifted their price objective on Enerflex from C$49.00 to C$53.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 14th. RBC Dominion Securities boosted their price objective on Enerflex from C$33.00 to C$35.00 and gave the company an "outperform" rating in a research note on Wednesday, October 14th. Acumen Capital upped their target price on Enerflex from C$42.00 to C$48.00 and gave the company a "buy" rating in a research report on Friday, October 2nd. Finally, Canadian Imperial Bank of Commerce upgraded Enerflex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$40.53.

Enerflex Trading Up 2.2%

The company has a market cap of C$4.23 billion, a price-to-earnings ratio of 78.91 and a beta of 1.87. The company has a current ratio of 1.19, a quick ratio of 1.20 and a debt-to-equity ratio of 51.03. The firm's 50-day moving average price is C$31.85 and its 200 day moving average price is C$33.05.

Enerflex (TSE:EFX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$0.36 earnings per share (EPS) for the quarter. Enerflex had a net margin of 2.53% and a return on equity of 5.26%. The company had revenue of C$826.90 million for the quarter. As a group, equities analysts expect that Enerflex Ltd. will post 0.73 EPS for the current year.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd were issued a $0.0450 dividend. The ex-dividend date was Wednesday, August 19th. This is a positive change from Enerflex's previous quarterly dividend of $0.0425. This represents a $0.18 dividend on an annualized basis and a yield of 0.5%. Enerflex's dividend payout ratio is 27.03%.

Enerflex Company Profile

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.

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