Enerflex Ltd. Announces Quarterly Dividend of $0.03 (NYSE:EFXT)

Enerflex Ltd. (NYSE:EFXT) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.026 per share on Monday, March 24th. This represents a $0.10 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, March 10th.

Enerflex has increased its dividend payment by an average of 9.8% annually over the last three years. Enerflex has a payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Enerflex to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 12.3%.

Enerflex Trading Up 1.1 %

Shares of EFXT traded up $0.09 during midday trading on Friday, reaching $7.95. The company had a trading volume of 309,661 shares, compared to its average volume of 400,318. Enerflex has a 1-year low of $4.59 and a 1-year high of $10.61. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. The firm has a 50 day simple moving average of $9.67 and a 200-day simple moving average of $7.95. The stock has a market cap of $986.94 million, a PE ratio of -12.62 and a beta of 2.02.

Analyst Ratings Changes

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

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.