Enerflex (TSE:EFX) Sets New 52-Week High After Analyst Upgrade

Shares of Enerflex Ltd. (TSE:EFX) reached a new 52-week high on Monday after Acumen Capital raised their price target on the stock from C$12.00 to C$15.00. The stock traded as high as C$12.26 and last traded at C$12.20, with a volume of 50252 shares. The stock had previously closed at C$11.75.

Several other research analysts have also recently weighed in on EFX. Raymond James raised their target price on Enerflex from C$12.00 to C$13.75 in a research note on Friday, November 15th. ATB Capital upped their price target on shares of Enerflex from C$12.00 to C$15.00 in a research report on Friday, November 15th. TD Securities lifted their price target on Enerflex from C$12.00 to C$15.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, BMO Capital Markets raised their price objective on Enerflex from C$11.00 to C$15.00 in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$12.34.

Enerflex Price Performance

The company has a quick ratio of 1.20, a current ratio of 1.27 and a debt-to-equity ratio of 93.84. The company has a market capitalization of C$1.52 billion, a price-to-earnings ratio of -10.65 and a beta of 1.71. The stock’s 50-day moving average price is C$8.86 and its 200-day moving average price is C$7.90.

Enerflex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 16th will be issued a dividend of $0.0375 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.15 dividend on an annualized basis and a yield of 1.22%. This is a boost from Enerflex’s previous quarterly dividend of $0.03. Enerflex’s dividend payout ratio (DPR) is -8.70%.

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.