Enerflex (NYSE:EFXT) Shares Gap Up – Should You Buy?

Enerflex Ltd. (NYSE:EFXT)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $7.58, but opened at $7.92. Enerflex shares last traded at $7.48, with a volume of 33,039 shares changing hands.

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 research note on Friday.

Enerflex Stock Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 0.93. The business has a 50-day moving average of $6.43 and a 200-day moving average of $5.75. The company has a market capitalization of $1.03 billion, a P/E ratio of -13.24 and a beta of 1.89.

Enerflex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, November 26th will be issued a $0.0268 dividend. This represents a $0.11 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Tuesday, November 26th. This is a positive change from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s dividend payout ratio (DPR) is -17.46%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EFXT. TD Asset Management Inc boosted its stake in shares of Enerflex by 1.9% during the second quarter. TD Asset Management Inc now owns 152,701 shares of the company’s stock valued at $824,000 after purchasing an additional 2,789 shares during the period. The Manufacturers Life Insurance Company boosted its position in 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 buying an additional 5,864 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Enerflex by 24.3% in 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 in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Enerflex by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 179,088 shares of the company’s stock worth $965,000 after acquiring an additional 7,700 shares during the period. Finally, Avidian Wealth Enterprises LLC raised its stake in shares of Enerflex by 15.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 76,413 shares of the company’s stock valued at $455,000 after acquiring an additional 9,975 shares in the last quarter. Hedge funds and other institutional investors own 46.47% 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.