Enerflex (TSE:EFX) Shares Break Above 200 Day Moving Average – Here’s Why

Shares of Enerflex Ltd. (TSE:EFX) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$33.05 and traded as high as C$35.06. Enerflex shares last traded at C$34.72, with a volume of 381,088 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have commented on EFX. Acumen Capital upped their price target on Enerflex from C$42.00 to C$48.00 and gave the company a “buy” rating in a report on Friday, October 2nd. RBC Dominion Securities boosted their target price on Enerflex from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. Canadian Imperial Bank of Commerce raised Enerflex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. Raymond James Financial increased their target price on Enerflex from C$49.00 to C$53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 14th. Finally, ATB Cormark Capital Markets boosted their target price on shares of Enerflex from C$52.00 to C$56.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$40.53.

Enerflex Stock Down 0.7%

The company has a debt-to-equity ratio of 51.03, a current ratio of 1.19 and a quick ratio of 1.20. The stock has a market capitalization of C$3.89 billion, a P/E ratio of 72.50 and a beta of 1.87. The firm has a 50-day simple moving average of C$31.89 and a 200 day simple moving average of C$33.08.

Enerflex (TSE:EFX) last announced its earnings results on Thursday, August 6th. The company reported C$0.36 EPS for the quarter. The business had revenue of C$826.90 million for the quarter. Enerflex had a return on equity of 5.26% and a net margin of 2.53%. On average, equities research analysts forecast that Enerflex Ltd. will post 0.73 EPS for the current year.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd were issued a dividend of $0.0450 per share. This represents a $0.18 annualized dividend and a yield of 0.6%. This is an increase from Enerflex’s previous quarterly dividend of $0.0425. The ex-dividend date was Wednesday, August 19th. Enerflex’s dividend payout ratio is currently 27.03%.

About Enerflex

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.