Royal Bank of Canada Increases Enerflex (NYSE:EFXT) Price Target to $9.00

Enerflex (NYSE:EFXT) had its target price raised by Royal Bank of Canada from $8.00 to $9.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently weighed in on EFXT. National Bank Financial downgraded Enerflex from a strong-buy rating to a hold rating in a report on Sunday, June 2nd. Acumen Capital upgraded Enerflex to a strong-buy rating in a report on Saturday, June 1st. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Buy and a consensus target price of $9.00.

Enerflex Price Performance

Shares of EFXT opened at $5.99 on Friday. The business has a 50-day moving average of $5.30 and a 200-day moving average of $5.49. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market capitalization of $743.03 million, a price-to-earnings ratio of -6.73 and a beta of 2.01. Enerflex has a 1 year low of $3.94 and a 1 year high of $6.46.

Enerflex (NYSE:EFXT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). Enerflex had a negative return on equity of 2.47% and a negative net margin of 4.61%. The firm had revenue of $614.00 million for the quarter, compared to the consensus estimate of $554.20 million. As a group, equities research analysts anticipate that Enerflex will post 0.28 earnings per share for the current year.

Enerflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Thursday, August 22nd will be paid a $0.018 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.07 annualized dividend and a dividend yield of 1.20%. Enerflex’s dividend payout ratio is presently -7.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its stake in shares of Enerflex by 1.9% in the second quarter. TD Asset Management Inc now owns 152,701 shares of the company’s stock valued at $824,000 after buying an additional 2,789 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Enerflex by 24.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company’s stock worth $174,000 after acquiring an additional 6,325 shares during the last quarter. Fiera Capital Corp lifted its position in Enerflex by 117.0% in the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock valued at $134,000 after acquiring an additional 13,390 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Enerflex by 17,674.4% during the 2nd quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock valued at $81,000 after purchasing an additional 15,200 shares during the last quarter. Finally, Avidian Wealth Solutions LLC bought a new stake in Enerflex during the 1st quarter worth approximately $90,000. 46.47% of the stock is owned by institutional investors and hedge funds.

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.