Enerflex (NYSE:EFXT) Sets New 1-Year High – What’s Next?

Shares of Enerflex Ltd. (NYSE:EFXT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $8.95 and last traded at $8.88, with a volume of 27510 shares trading hands. The stock had previously closed at $8.84.

Wall Street Analysts Forecast Growth

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

Enerflex Stock Performance

The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The business has a fifty day moving average price of $6.43 and a 200-day moving average price of $5.75.

Enerflex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be paid 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 1.21%. This is a boost from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s dividend payout ratio is currently -11.11%.

Institutional Trading of Enerflex

A number of large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its position in Enerflex by 57.9% during the second quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company’s stock valued at $23,631,000 after purchasing an additional 1,606,236 shares during the period. 1832 Asset Management L.P. raised its stake in Enerflex by 16.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock valued at $55,819,000 after buying an additional 1,435,900 shares during the last quarter. Taconic Capital Advisors LP lifted its holdings in shares of Enerflex by 35.6% during the 3rd quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock valued at $10,559,000 after buying an additional 465,000 shares during the period. PCJ Investment Counsel Ltd. boosted its stake in shares of Enerflex by 14.1% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock worth $7,376,000 after buying an additional 152,990 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Enerflex by 183.4% during the second quarter. Marshall Wace LLP now owns 218,505 shares of the company’s stock valued at $1,180,000 after acquiring an additional 141,393 shares during the last quarter. 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.