Enerflex (NYSE:EFXT) Sets New 1-Year High – Time to Buy?

Enerflex Ltd. (NYSE:EFXT)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $9.88 and last traded at $9.82, with a volume of 57337 shares changing hands. The stock had previously closed at $9.83.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lifted their target price on Enerflex from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

Enerflex Trading Down 1.0 %

The stock’s 50-day moving average price is $8.42 and its 200 day moving average price is $6.62. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. The firm has a market capitalization of $1.21 billion, a PE ratio of -15.41 and a beta of 2.21.

Enerflex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.0268 per share. This is an increase from Enerflex’s previous quarterly dividend of $0.02. This represents a $0.11 annualized dividend and a yield of 1.10%. The ex-dividend date is Tuesday, November 26th. Enerflex’s dividend payout ratio (DPR) is presently -17.46%.

Institutional Investors Weigh In On Enerflex

Several hedge funds have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. bought a new stake in shares of Enerflex in the third quarter valued at about $65,000. Acadian Asset Management LLC lifted its position in shares of Enerflex by 17,674.4% in the 2nd quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock worth $81,000 after purchasing an additional 15,200 shares during the period. West Tower Group LLC bought a new position in shares of Enerflex during the third quarter valued at approximately $119,000. Net Worth Advisory Group purchased a new position in Enerflex during the third quarter valued at approximately $146,000. Finally, Fiera Capital Corp raised its stake in Enerflex by 117.0% in the second quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock worth $134,000 after buying an additional 13,390 shares in the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

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.