Royal Bank of Canada Issues Positive Forecast for Enerflex (NYSE:EFXT) Stock Price

Enerflex (NYSE:EFXT) had its price objective boosted by Royal Bank of Canada from $9.00 to $12.00 in a report issued on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Enerflex Price Performance

Shares of EFXT traded up $0.35 during mid-day trading on Friday, reaching $8.34. The company had a trading volume of 445,070 shares, compared to its average volume of 182,021. The company’s 50 day simple moving average is $6.43 and its 200 day simple moving average is $5.75. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -13.24 and a beta of 1.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.93 and a current ratio of 1.27. Enerflex has a 1-year low of $4.01 and a 1-year high of $8.48.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.0268 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.11 annualized dividend and a yield of 1.29%. This is an increase from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s dividend payout ratio is -17.46%.

Hedge Funds Weigh In On Enerflex

Several institutional investors and hedge funds have recently bought and sold shares of EFXT. TD Asset Management Inc grew 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 buying an additional 2,789 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Enerflex by 3.3% during the third 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 last quarter. Geode Capital Management LLC raised its stake in shares of Enerflex by 11.2% in the third quarter. Geode Capital Management LLC now owns 61,057 shares of the company’s stock worth $364,000 after purchasing an additional 6,158 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Enerflex by 24.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company’s stock valued at $174,000 after acquiring an additional 6,325 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Enerflex by 4.5% in 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 owned by 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.