Enerflex (TSE:EFX) Trading 6.1% Higher – Here’s What Happened

Enerflex Ltd. (TSE:EFX)’s stock price rose 6.1% during trading on Thursday . The company traded as high as C$18.91 and last traded at C$18.90. Approximately 119,017 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 477,623 shares. The stock had previously closed at C$17.82.

Wall Street Analysts Forecast Growth

EFX has been the topic of a number of research reports. BMO Capital Markets increased their price objective on Enerflex from C$18.00 to C$20.00 in a report on Friday, October 10th. Raymond James Financial increased their price objective on Enerflex from C$17.75 to C$18.25 and gave the stock an “outperform” rating in a report on Friday, August 8th. TD Securities upped their target price on Enerflex from C$17.00 to C$19.00 in a research report on Tuesday, October 14th. Royal Bank Of Canada increased their price objective on Enerflex from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. Finally, ATB Capital increased their price objective on Enerflex from C$19.00 to C$19.50 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Enerflex currently has a consensus rating of “Moderate Buy” and an average target price of C$17.53.

Enerflex Price Performance

The stock has a fifty day moving average of C$15.51 and a 200-day moving average of C$12.43. The company has a quick ratio of 1.20, a current ratio of 1.19 and a debt-to-equity ratio of 81.27. The firm has a market capitalization of C$2.31 billion, a P/E ratio of 18.17 and a beta of 2.28.

Enerflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Enerflex’s payout ratio is presently 9.50%.

Enerflex Company Profile

Enerflex Ltd engineers, designs, manufactures and provides aftermarket support for equipment, systems, and turnkey facilities used to process and move natural gas from the wellhead to the pipeline. The company’s focus is gas compression, where it offers a range of applications and gas inlet streams, from low-horsepower/low-pressure applications such as a coal seam gas and solution gas vapor recovery units to high-horsepower, centralized field, or processing plant compression.