Enerflex (NYSE:EFXT) Reaches New 52-Week High – Time to Buy?

Enerflex Ltd. (NYSE:EFXT) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.54 and last traded at $9.51, with a volume of 69573 shares changing hands. The stock had previously closed at $9.23.

Wall Street Analyst Weigh In

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

Enerflex Price Performance

The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $7.35 and its 200-day moving average is $6.09. The stock has a market cap of $1.18 billion, a PE ratio of -15.11 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 paid a dividend of $0.0268 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.11 annualized dividend and a yield of 1.13%. This is a boost from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s dividend payout ratio is presently -17.46%.

Institutional Trading of Enerflex

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its holdings in Enerflex by 2,616,800.0% in the 3rd quarter. Barclays PLC now owns 26,169 shares of the company’s stock worth $156,000 after buying an additional 26,168 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Enerflex by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 61,057 shares of the company’s stock valued at $364,000 after acquiring an additional 6,158 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Enerflex during the 3rd quarter valued at $344,000. Taconic Capital Advisors LP lifted its position in shares of Enerflex by 35.6% during the 3rd quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock valued at $10,559,000 after acquiring an additional 465,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Enerflex by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 184,952 shares of the company’s stock valued at $1,103,000 after acquiring an additional 5,864 shares during the last quarter. Institutional investors and hedge funds 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.