Enerflex (NYSE:EFXT) Reaches New 52-Week High – Still a Buy?

Enerflex Ltd. (NYSE:EFXT)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $10.00 and last traded at $10.00, with a volume of 2586 shares trading hands. The stock had previously closed at $9.40.

Analyst Ratings Changes

Separately, Royal Bank of Canada raised 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.

Enerflex Trading Down 1.5 %

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 $1.14 billion, a P/E ratio of -14.56 and a beta of 1.89. The business’s 50-day moving average is $6.87 and its 200 day moving average is $5.90.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, November 26th will be paid a $0.0268 dividend. This is a boost from Enerflex’s previous quarterly dividend of $0.02. This represents a $0.11 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, November 26th. Enerflex’s payout ratio is -11.11%.

Hedge Funds Weigh In On Enerflex

A number of hedge funds have recently added to or reduced their stakes in EFXT. TD Asset Management Inc lifted its stake in Enerflex by 1.9% during the second quarter. TD Asset Management Inc now owns 152,701 shares of the company’s stock worth $824,000 after purchasing an additional 2,789 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Enerflex by 3.3% in 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. Geode Capital Management LLC boosted its holdings 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Enerflex by 24.3% during 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. Finally, The Manufacturers Life Insurance Company increased its holdings in Enerflex by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 179,088 shares of the company’s stock worth $965,000 after purchasing an additional 7,700 shares in the last quarter. Institutional investors 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.