Enerflex (NYSE:EFXT) Shares Down 3.3% – Here’s What Happened

Enerflex Ltd. (NYSE:EFXT)’s stock price traded down 3.3% on Thursday . The company traded as low as $15.11 and last traded at $15.1460. 76,887 shares were traded during mid-day trading, a decline of 82% from the average session volume of 429,378 shares. The stock had previously closed at $15.67.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EFXT. Wall Street Zen upgraded shares of Enerflex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Enerflex in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on Enerflex from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Zacks Research lowered shares of Enerflex from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Raymond James Financial raised Enerflex from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Enerflex currently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Enerflex Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.24 and a debt-to-equity ratio of 0.61. The company has a 50 day simple moving average of $13.18 and a 200-day simple moving average of $10.50. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 13.28 and a beta of 1.99.

Enerflex (NYSE:EFXT) last posted its earnings results on Thursday, November 6th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). Enerflex had a return on equity of 12.35% and a net margin of 5.43%.The business had revenue of $777.00 million for the quarter, compared to the consensus estimate of $682.88 million. As a group, equities research analysts expect that Enerflex Ltd. will post 0.25 EPS for the current fiscal year.

Enerflex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a dividend of $0.0425 per share. This is an increase from Enerflex’s previous quarterly dividend of $0.04. This represents a $0.17 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, November 17th. Enerflex’s dividend payout ratio (DPR) is currently 10.91%.

Hedge Funds Weigh In On Enerflex

Several hedge funds have recently bought and sold shares of the company. D Orazio & Associates Inc. purchased a new stake in Enerflex during the second quarter valued at about $80,000. Vise Technologies Inc. bought a new position in Enerflex in the second quarter worth about $85,000. Shelton Capital Management bought a new position in shares of Enerflex during the third quarter valued at approximately $136,000. Schonfeld Strategic Advisors LLC purchased a new stake in Enerflex during the 3rd quarter valued at about $138,000. Finally, Prelude Capital Management LLC bought a new position in Enerflex in the 3rd quarter valued at approximately $147,000. Hedge funds and other 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.