Enerflex Ltd. (NYSE:EFXT) Increases Dividend to $0.03 Per Share

Enerflex Ltd. (NYSE:EFXT) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Tuesday, November 26th will be paid a dividend of 0.0268 per share on Thursday, January 16th. This represents a $0.11 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, November 26th. This is a boost from Enerflex’s previous quarterly dividend of $0.02.

Enerflex has decreased its dividend by an average of 17.0% annually over the last three years. Enerflex has a dividend payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Enerflex to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 13.6%.

Enerflex Stock Performance

Shares of EFXT stock opened at $9.40 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. Enerflex has a 52 week low of $4.01 and a 52 week high of $9.52. The company has a 50-day simple moving average of $6.79 and a 200 day simple moving average of $5.87.

Wall Street Analyst Weigh In

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

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.