Enerflex (NYSE:EFXT) Stock Price Up 3% After Dividend Announcement

Shares of Enerflex Ltd. (NYSE:EFXT) shot up 3% on Friday following a dividend announcement from the company. The company traded as high as $8.28 and last traded at $8.23. 54,048 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 180,164 shares. The stock had previously closed at $7.99.

The newly announced dividend which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be paid a $0.0268 dividend. This represents a $0.11 annualized dividend and a yield of 1.29%. The ex-dividend date is Tuesday, November 26th. This is a positive change from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s payout ratio is -17.46%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their price target on shares of Enerflex from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Friday.

Enerflex Stock Performance

The firm has a fifty day moving average price of $6.43 and a 200 day moving average price of $5.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.93 and a current ratio of 1.27. The stock has a market cap of $1.03 billion, a PE ratio of -13.24 and a beta of 1.89.

Institutional Investors Weigh In On Enerflex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position in Enerflex by 17,674.4% during the 2nd quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock worth $81,000 after acquiring an additional 15,200 shares during the period. West Tower Group LLC acquired a new stake in shares of Enerflex during the third quarter worth about $119,000. Fiera Capital Corp increased its holdings in Enerflex by 117.0% in the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock worth $134,000 after buying an additional 13,390 shares during the period. Net Worth Advisory Group purchased a new position in Enerflex during the 3rd quarter worth approximately $146,000. Finally, Barclays PLC raised its position in Enerflex by 2,616,800.0% during 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 during the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

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.