Enerflex (NYSE:EFXT) Reaches New 1-Year High – Still a Buy?

Shares of Enerflex Ltd. (NYSE:EFXT) reached a new 52-week high on Thursday . The company traded as high as $9.54 and last traded at $9.51, with a volume of 69573 shares. The stock had previously closed at $9.23.

Analyst Ratings Changes

Separately, Royal Bank of Canada increased their target price on shares of Enerflex from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 15th.

Enerflex Trading Up 2.9 %

The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. The company’s fifty day moving average price is $7.35 and its two-hundred day moving average price is $6.09. The firm has a market cap of $1.18 billion, a PE ratio of -15.11 and a beta of 2.21.

Enerflex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.0268 per share. This is a positive change from Enerflex’s previous quarterly dividend of $0.02. This represents a $0.11 annualized dividend and a yield of 1.13%. The ex-dividend date is Tuesday, November 26th. Enerflex’s dividend payout ratio is presently -17.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Enerflex by 24.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company’s stock valued at $174,000 after buying an additional 6,325 shares during the period. Fiera Capital Corp lifted its stake in shares of Enerflex by 117.0% during the second quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock valued at $134,000 after buying an additional 13,390 shares during the period. TD Asset Management Inc lifted its stake in shares of Enerflex by 1.9% during the second quarter. TD Asset Management Inc now owns 152,701 shares of the company’s stock valued at $824,000 after buying an additional 2,789 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Enerflex by 17,674.4% during the second quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock valued at $81,000 after buying an additional 15,200 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Enerflex during the second quarter valued at approximately $609,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.