Enerflex (NYSE:EFXT) Given New $17.00 Price Target at Royal Bank Of Canada

Enerflex (NYSE:EFXT) had its price target boosted by Royal Bank Of Canada from $15.00 to $17.00 in a research note published on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also issued reports on EFXT. Raymond James Financial reaffirmed an “outperform” rating on shares of Enerflex in a research note on Friday, August 8th. Zacks Research raised shares of Enerflex from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Wall Street Zen upgraded shares of Enerflex from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. BMO Capital Markets restated an “outperform” rating on shares of Enerflex in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Enerflex in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.13.

Enerflex Price Performance

Shares of NYSE EFXT traded up $0.04 during trading on Friday, hitting $13.41. The company had a trading volume of 395,265 shares, compared to its average volume of 436,479. Enerflex has a fifty-two week low of $6.18 and a fifty-two week high of $13.74. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $11.27 and a two-hundred day simple moving average of $9.06. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 12.19 and a beta of 2.03.

Enerflex (NYSE:EFXT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Enerflex had a net margin of 5.43% and a return on equity of 12.55%. The company had revenue of $777.00 million during the quarter, compared to analysts’ expectations of $682.88 million. On average, research analysts expect that Enerflex will post 0.25 earnings per share for the current year.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $0.0425 dividend. This is an increase from Enerflex’s previous quarterly dividend of $0.04. The ex-dividend date is Monday, November 17th. This represents a $0.17 annualized dividend and a yield of 1.3%. Enerflex’s payout ratio is presently 9.09%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Enerflex by 42.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,282,450 shares of the company’s stock worth $48,555,000 after buying an additional 1,863,470 shares during the period. Millennium Management LLC grew its stake in shares of Enerflex by 351.0% in the first quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock worth $8,747,000 after acquiring an additional 880,358 shares in the last quarter. Man Group plc grew its stake in shares of Enerflex by 433.7% in the second quarter. Man Group plc now owns 1,069,556 shares of the company’s stock worth $8,426,000 after acquiring an additional 869,156 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Enerflex by 51.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after acquiring an additional 752,893 shares in the last quarter. Finally, NewGen Equity Long Short Fund acquired a new stake in shares of Enerflex in the second quarter valued at $5,628,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.