Enerflex Ltd. (NYSE:EFXT) Plans Quarterly Dividend of $0.03

Enerflex Ltd. (NYSE:EFXT) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Shareholders of record on Tuesday, November 26th will be paid a dividend of 0.0268 per share on Thursday, January 16th. This represents a $0.11 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, November 26th. This is a positive change from Enerflex’s previous quarterly dividend of $0.02.

Enerflex has decreased its dividend payment by an average of 17.0% per year over the last three years. Enerflex has a payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Enerflex to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.07 annual dividend with an expected future payout ratio of 9.6%.

Enerflex Stock Performance

Shares of Enerflex stock traded up $0.35 during midday trading on Friday, hitting $8.34. The company had a trading volume of 339,338 shares, compared to its average volume of 181,545. The stock has a market cap of $1.03 billion, a PE ratio of -13.22 and a beta of 1.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 0.93. Enerflex has a 1-year low of $4.01 and a 1-year high of $8.48. The business’s 50 day simple moving average is $6.38 and its two-hundred day simple moving average is $5.74.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their target price on Enerflex from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday.

Enerflex Company Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.