Enerflex (TSE:EFX) Shares Climb 14.4% - Here's Why

Key Points

• Enerflex shares surged 14.4% to C$39.21, reaching an intraday high of C$39.38, on trading volume below its average.
• Analyst sentiment remains positive: seven analysts rate the stock Buy and two rate it Hold, while several firms raised their price targets to between C$48 and C$52.
• Enerflex increased its quarterly dividend to C$0.045 per share, equivalent to an annualized C$0.18 payout and a 0.5% yield.

Enerflex Ltd. (TSE:EFX - Get Free Report)'s stock price traded up 14.4% during trading on Tuesday. The stock traded as high as C$39.38 and last traded at C$39.21. Approximately 470,971 shares traded hands during trading, a decline of 36% from the average daily volume of 730,977 shares. The stock had previously closed at C$34.26.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Acumen Capital increased their price target on shares of Enerflex from C$42.00 to C$48.00 and gave the company a "buy" rating in a report on Friday, October 2nd. National Bank Financial set a C$42.50 price target on shares of Enerflex and gave the stock an "outperform" rating in a research report on Thursday, June 18th. ATB Cormark Capital Markets boosted their price objective on shares of Enerflex from C$47.00 to C$52.00 and gave the stock an "outperform" rating in a report on Friday, October 2nd. Finally, Raymond James Financial boosted their price objective on shares of Enerflex from C$48.00 to C$49.00 and gave the stock an "outperform" rating in a report on Friday, October 2nd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Enerflex currently has an average rating of "Moderate Buy" and a consensus target price of C$37.69.

Enerflex Price Performance

The stock has a 50-day simple moving average of C$30.99 and a 200 day simple moving average of C$32.72. The company has a debt-to-equity ratio of 51.03, a quick ratio of 1.20 and a current ratio of 1.19. The company has a market cap of C$4.79 billion, a P/E ratio of 89.11 and a beta of 1.87.

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

Enerflex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd were given a $0.0450 dividend. This represents a $0.18 annualized dividend and a yield of 0.5%. This is an increase from Enerflex's previous quarterly dividend of $0.0425. The ex-dividend date of this dividend was Wednesday, August 19th. Enerflex's dividend payout ratio (DPR) 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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