Enerflex (NYSE:EFXT) Sets New 52-Week High – Time to Buy?

Enerflex Ltd. (NYSE:EFXT) shares reached a new 52-week high on Thursday . The stock traded as high as $10.21 and last traded at $10.16, with a volume of 147658 shares trading hands. The stock had previously closed at $9.95.

Analyst Ratings Changes

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

Enerflex Trading Up 1.4 %

The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -16.02 and a beta of 2.21. The business has a 50-day moving average of $8.63 and a two-hundred day moving average of $6.74.

Enerflex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders 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 is a boost from Enerflex’s previous quarterly dividend of $0.02. This represents a $0.11 dividend on an annualized basis and a dividend yield of 1.06%. Enerflex’s payout ratio is currently -17.46%.

Institutional Trading of Enerflex

Institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its stake in Enerflex by 57.9% during the second quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company’s stock worth $23,631,000 after purchasing an additional 1,606,236 shares during the period. 1832 Asset Management L.P. boosted its stake in Enerflex by 16.1% in 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 in the last quarter. Taconic Capital Advisors LP grew its position in Enerflex by 35.6% in the third quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock valued at $10,559,000 after acquiring an additional 465,000 shares during the period. PCJ Investment Counsel Ltd. raised its stake in Enerflex by 14.1% during the third 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, Marshall Wace LLP boosted its stake in shares of Enerflex by 183.4% in the 2nd quarter. Marshall Wace LLP now owns 218,505 shares of the company’s stock valued at $1,180,000 after purchasing an additional 141,393 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.