Enerflex (NYSE:EFXT) Price Target Raised to $12.00 at Royal Bank of Canada

Enerflex (NYSE:EFXT) had its price target lifted by Royal Bank of Canada from $9.00 to $12.00 in a research note published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Enerflex Price Performance

Shares of NYSE EFXT opened at $8.84 on Friday. The firm has a market capitalization of $1.10 billion, a P/E ratio of -14.03 and a beta of 1.89. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 0.92. The stock’s 50-day simple moving average is $6.43 and its two-hundred day simple moving average is $5.75. Enerflex has a twelve month low of $4.01 and a twelve month high of $8.93.

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. The ex-dividend date is Tuesday, November 26th. 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 1.21%. Enerflex’s payout ratio is presently -11.11%.

Hedge Funds Weigh In On Enerflex

A number of institutional investors have recently made changes to their positions in EFXT. Geode Capital Management LLC lifted its holdings in shares of Enerflex by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 61,057 shares of the company’s stock worth $364,000 after acquiring an additional 6,158 shares during the last quarter. Barclays PLC lifted its stake in Enerflex by 2,616,800.0% during the third quarter. Barclays PLC now owns 26,169 shares of the company’s stock worth $156,000 after purchasing an additional 26,168 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Enerflex during the third quarter worth about $344,000. Taconic Capital Advisors LP boosted its holdings in shares of Enerflex by 35.6% in the 3rd quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock worth $10,559,000 after purchasing an additional 465,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Enerflex by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 184,952 shares of the company’s stock valued at $1,103,000 after purchasing an additional 5,864 shares during the last quarter. 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.