Enerflex (NYSE:EFXT) Reaches New 1-Year High – Time to Buy?

Enerflex Ltd. (NYSE:EFXT) reached a new 52-week high on Monday . The company traded as high as $10.00 and last traded at $10.00, with a volume of 2586 shares changing hands. The stock had previously closed at $9.40.

Wall Street Analyst Weigh In

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

Enerflex Stock Down 1.5 %

The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The stock’s 50-day moving average price is $6.87 and its 200-day moving average price is $5.90. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -14.56 and a beta of 1.89.

Enerflex Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.11 dividend on an annualized basis and a yield of 1.16%. This is a boost from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s dividend payout ratio is -11.11%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EFXT. 1832 Asset Management L.P. boosted its position in shares of Enerflex by 16.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock valued at $55,819,000 after purchasing an additional 1,435,900 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Enerflex by 57.9% in the second quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company’s stock valued at $23,631,000 after buying an additional 1,606,236 shares during the period. Taconic Capital Advisors LP boosted its holdings in shares of Enerflex by 35.6% during the 3rd quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock worth $10,559,000 after buying an additional 465,000 shares in the last quarter. PCJ Investment Counsel Ltd. grew its position in shares of Enerflex by 14.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock worth $7,376,000 after buying an additional 152,990 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its stake in shares of Enerflex by 3.0% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,036,274 shares of the company’s stock valued at $6,175,000 after acquiring an additional 29,830 shares in the last quarter. 46.47% of the stock is owned by institutional investors.

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.