Enerflex (TSE:EFX) Hits New 12-Month High – Here’s Why

Enerflex Ltd. (TSE:EFX) shares hit a new 52-week high during trading on Monday . The company traded as high as C$14.32 and last traded at C$14.31, with a volume of 23357 shares traded. The stock had previously closed at C$14.03.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EFX. TD Securities raised their price objective on Enerflex from C$12.00 to C$15.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. National Bankshares raised their price target on shares of Enerflex from C$11.00 to C$16.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 19th. Acumen Capital upped their price objective on shares of Enerflex from C$12.00 to C$15.00 in a report on Friday, November 15th. Raymond James increased their price objective on shares of Enerflex from C$12.00 to C$13.75 in a research note on Friday, November 15th. Finally, ATB Capital boosted their target price on shares of Enerflex from C$15.00 to C$17.00 in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$13.47.

Enerflex Stock Performance

The company has a debt-to-equity ratio of 93.84, a quick ratio of 1.20 and a current ratio of 1.27. The firm’s 50 day moving average price is C$11.70 and its 200-day moving average price is C$9.09. The firm has a market capitalization of C$1.78 billion, a PE ratio of -12.50 and a beta of 1.71.

Enerflex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 16th will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 1.04%. This is an increase from Enerflex’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, November 26th. Enerflex’s dividend payout ratio is presently -8.70%.

Insider Activity

In other news, Director Joanne Linette Cox acquired 2,500 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of C$13.65 per share, for a total transaction of C$34,115.00. Insiders own 0.49% of the company’s stock.

Enerflex Company Profile

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.