Enerflex Ltd. (NYSE:EFXT) Announces Dividend of $0.04

Enerflex Ltd. (NYSE:EFXT) announced a dividend on Saturday, May 17th, investing.com reports. Investors of record on Thursday, May 22nd will be given a dividend of 0.0375 per share on Tuesday, June 3rd. This represents a yield of 1.51%. The ex-dividend date is Wednesday, May 21st.

Enerflex has increased its dividend by an average of 9.8% per year over the last three years and has raised its dividend every year for the last 1 years. Enerflex has a dividend payout ratio of 16.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Enerflex to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 13.6%.

Enerflex Price Performance

NYSE EFXT opened at $7.10 on Friday. The business has a 50 day simple moving average of $7.03 and a 200 day simple moving average of $8.37. Enerflex has a 52-week low of $4.60 and a 52-week high of $10.61. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.19. The stock has a market cap of $881.22 million, a price-to-earnings ratio of -11.27 and a beta of 2.02.

Enerflex (NYSE:EFXT) last posted its earnings results on Thursday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. Enerflex had a negative return on equity of 1.25% and a negative net margin of 3.15%. The business had revenue of $552.00 million during the quarter, compared to analysts’ expectations of $583.59 million. Analysts anticipate that Enerflex will post 0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EFXT has been the subject of a number of research reports. CIBC lowered their target price on Enerflex from $10.00 to $9.25 and set a “neutral” rating for the company in a research note on Friday, May 9th. Royal Bank of Canada decreased their price target on shares of Enerflex from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th.

Institutional Investors Weigh In On Enerflex

A number of hedge funds and other institutional investors have recently modified their holdings of EFXT. NewEdge Advisors LLC lifted its holdings in shares of Enerflex by 984.3% during the first quarter. NewEdge Advisors LLC now owns 22,791 shares of the company’s stock worth $176,000 after buying an additional 20,689 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Enerflex by 351.0% during the first quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock worth $8,747,000 after buying an additional 880,358 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Enerflex by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock worth $17,031,000 after buying an additional 752,893 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

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.