Enerflex (NYSE:EFXT) Shares Cross Above 50-Day Moving Average – What’s Next?

Enerflex Ltd. (NYSE:EFXT) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $22.78 and traded as high as $23.81. Enerflex shares last traded at $23.43, with a volume of 530,601 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EFXT. Weiss Ratings upgraded shares of Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Zacks Research downgraded Enerflex from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Acumen Capital raised Enerflex to a “strong-buy” rating in a report on Friday, October 2nd. Royal Bank Of Canada lifted their target price on Enerflex from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Enerflex in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

Enerflex Stock Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19. The firm has a market cap of $3.05 billion, a P/E ratio of 58.16 and a beta of 1.80. The business’s 50-day simple moving average is $22.88 and its 200 day simple moving average is $22.46.

Enerflex (NYSE:EFXT) last announced its earnings results on Thursday, August 6th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). The company had revenue of $582.00 million for the quarter, compared to analysts’ expectations of $606.78 million. Enerflex had a net margin of 2.06% and a return on equity of 11.76%. As a group, equities analysts predict that Enerflex Ltd. will post 1.32 earnings per share for the current year.

Enerflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of C$0.04 per share. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, August 19th. Enerflex’s dividend payout ratio is 27.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EFXT. Montrusco Bolton Investments Inc. lifted its stake in shares of Enerflex by 694.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 211,736 shares of the company’s stock worth $4,829,000 after purchasing an additional 185,086 shares during the period. Wellington Altus USA Inc. purchased a new position in shares of Enerflex in the second quarter worth approximately $185,000. Integrated Wealth Concepts LLC bought a new stake in Enerflex during the second quarter valued at approximately $79,000. TD Waterhouse Canada Inc. grew its position in Enerflex by 74.7% during the second quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock valued at $13,170,000 after buying an additional 238,574 shares during the period. Finally, Hennessy Advisors Inc. bought a new stake in Enerflex during the second quarter valued at approximately $8,500,000. Institutional investors own 46.47% of the company’s stock.

Enerflex Company Profile

Enerflex Ltd. (NYSE: EFXT) is a Calgary-based energy infrastructure company that provides equipment, services and solutions for the processing, compression and transportation of natural gas. Its offerings support energy producers, midstream operators and industrial customers across the natural gas value chain.

The company designs, engineers, manufactures, commissions and services natural gas compression systems, gas processing and treating facilities, refrigeration and cryogenic systems, and electric power generation equipment.