Enerflex (NYSE:EFXT) Sets New 1-Year High – Here’s What Happened

Shares of Enerflex Ltd. (NYSE:EFXT) hit a new 52-week high on Wednesday . The company traded as high as $24.24 and last traded at $24.0690, with a volume of 67722 shares trading hands. The stock had previously closed at $23.13.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Canadian Imperial Bank of Commerce increased their target price on shares of Enerflex from $16.75 to $25.50 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Zacks Research raised shares of Enerflex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada raised their target price on shares of Enerflex from $20.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Enerflex in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut Enerflex from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Enerflex has a consensus rating of “Moderate Buy” and an average price target of $25.75.

Enerflex Trading Up 5.2%

The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 47.61 and a beta of 1.83. The company’s 50-day moving average is $21.12 and its 200-day moving average is $16.81. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Enerflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, March 11th. Enerflex’s payout ratio is presently 23.53%.

Institutional Investors Weigh In On Enerflex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. raised its position in Enerflex by 435.9% in the third quarter. Hillsdale Investment Management Inc. now owns 4,701,464 shares of the company’s stock valued at $50,695,000 after purchasing an additional 3,824,093 shares during the period. Millennium Management LLC increased its position in shares of Enerflex by 351.0% during the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock worth $8,747,000 after purchasing an additional 880,358 shares during the last quarter. Man Group plc raised its holdings in Enerflex by 433.7% in the 2nd quarter. Man Group plc now owns 1,069,556 shares of the company’s stock valued at $8,426,000 after buying an additional 869,156 shares during the period. Goldman Sachs Group Inc. lifted its position in Enerflex by 51.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after buying an additional 752,893 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Enerflex by 31.8% during the fourth quarter. TD Asset Management Inc now owns 2,151,660 shares of the company’s stock worth $33,215,000 after buying an additional 518,639 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

Enerflex Company Profile

Enerflex Ltd is a Calgary?headquartered energy infrastructure company specializing in the design, fabrication, installation and aftermarket support of natural gas compression, processing, refrigeration and treatment equipment. Its product portfolio includes reciprocating and centrifugal compression systems, gas treating and refrigeration packages, fuel gas conditioning and liquid separation solutions. In addition to equipment sales, Enerflex delivers field services such as commissioning, maintenance, monitoring and parts supply to optimize asset performance throughout the lifecycle.

The company supports upstream, midstream and downstream energy customers through an integrated offering that spans engineering, procurement and construction (EPC) as well as modular fabrication.