Enerflex (NYSE:EFXT) Hits New 12-Month High – Still a Buy?

Enerflex Ltd. (NYSE:EFXT) reached a new 52-week high during trading 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 Upgrades and Downgrades

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

Enerflex Stock Performance

The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -16.32 and a beta of 2.21. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. The firm has a 50 day moving average price of $8.78 and a 200-day moving average price of $6.80.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, November 26th will be paid a $0.0268 dividend. This represents a $0.11 annualized dividend and a dividend yield of 1.04%. 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’s dividend payout ratio (DPR) is presently -17.46%.

Institutional Trading of Enerflex

Large investors have recently made changes to their positions in the company. Clearbridge Investments LLC increased its holdings in Enerflex by 16.3% in the second quarter. Clearbridge Investments LLC now owns 567,366 shares of the company’s stock valued at $3,064,000 after buying an additional 79,419 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Enerflex during the 3rd quarter worth about $730,000. Marshall Wace LLP increased its holdings 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 acquiring an additional 141,393 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Enerflex during the 3rd quarter worth about $344,000. Finally, The Manufacturers Life Insurance Company lifted its stake in 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 purchasing an additional 7,700 shares during the last quarter. 46.47% of the stock is currently owned by hedge funds and other 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.