Enerflex (NYSE:EFXT) Trading 3% Higher Following Dividend Announcement

Shares of Enerflex Ltd. (NYSE:EFXT) shot up 3% on Friday following a dividend announcement from the company. The stock traded as high as $8.28 and last traded at $8.23. 54,048 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 180,164 shares. The stock had previously closed at $7.99.

The newly announced dividend which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.0268 per share. This is an increase from Enerflex’s previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, November 26th. This represents a $0.11 annualized dividend and a yield of 1.29%. Enerflex’s dividend payout ratio (DPR) is currently -17.46%.

Analysts Set New Price Targets

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

Enerflex Price Performance

The company has a fifty day moving average of $6.43 and a 200-day moving average of $5.75. The firm has a market cap of $1.03 billion, a P/E ratio of -13.24 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.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in Enerflex by 17,674.4% during the 2nd quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock worth $81,000 after purchasing an additional 15,200 shares in the last quarter. West Tower Group LLC bought a new position in shares of Enerflex during the 3rd quarter valued at about $119,000. Net Worth Advisory Group bought a new position in shares of Enerflex during the 3rd quarter valued at about $146,000. Fiera Capital Corp increased its position in shares of Enerflex by 117.0% during the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock valued at $134,000 after purchasing an additional 13,390 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Enerflex by 2,616,800.0% during the 3rd quarter. Barclays PLC now owns 26,169 shares of the company’s stock valued at $156,000 after acquiring an additional 26,168 shares during the period. Hedge funds and other institutional investors own 46.47% of the company’s stock.

About Enerflex

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.