Enerflex (NYSE:EFXT) Trading 2.1% Higher – Here’s Why

Enerflex Ltd. (NYSE:EFXT) was up 2.1% on Monday . The company traded as high as $9.95 and last traded at $9.91. Approximately 79,335 shares traded hands during trading, a decline of 62% from the average daily volume of 211,002 shares. The stock had previously closed at $9.71.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada boosted their target price on Enerflex from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 15th.

Enerflex Trading Up 3.9 %

The stock has a 50-day moving average price of $8.42 and a two-hundred day moving average price of $6.64. The stock has a market capitalization of $1.25 billion, a PE ratio of -16.02 and a beta of 2.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.19.

Enerflex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be given 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 1.06%. This is a positive change from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s dividend payout ratio (DPR) is -17.46%.

Institutional Trading of Enerflex

Institutional investors and hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. lifted its holdings in shares of Enerflex by 16.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock worth $55,819,000 after buying an additional 1,435,900 shares during the period. Mackenzie Financial Corp lifted its stake in Enerflex by 57.9% in the second quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company’s stock worth $23,631,000 after acquiring an additional 1,606,236 shares during the period. Taconic Capital Advisors LP lifted its stake in Enerflex by 35.6% in the third quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock worth $10,559,000 after acquiring an additional 465,000 shares during the period. PCJ Investment Counsel Ltd. grew its holdings in Enerflex by 14.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock worth $7,376,000 after acquiring an additional 152,990 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its position in Enerflex by 3.0% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,036,274 shares of the company’s stock valued at $6,175,000 after purchasing an additional 29,830 shares during the period. 46.47% of the stock is currently owned by 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.