Enerflex (NYSE:EFXT) Trading Up 3.9% – Still a Buy?

Enerflex Ltd. (NYSE:EFXT)’s stock price was up 3.9% during trading on Wednesday . The stock traded as high as $23.25 and last traded at $23.2580. 83,767 shares were traded during trading, a decline of 86% from the average daily volume of 586,788 shares. The stock had previously closed at $22.39.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EFXT shares. Royal Bank Of Canada raised their target price on shares of Enerflex from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Raymond James Financial lifted their price objective on Enerflex from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce set a $27.50 price target on Enerflex in a report on Monday, August 10th. Weiss Ratings downgraded shares of Enerflex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Finally, Zacks Research downgraded shares of Enerflex from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.17.

Enerflex Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.19 and a quick ratio of 0.86. The business’s 50 day moving average price is $21.86 and its 200 day moving average price is $23.22. The stock has a market capitalization of $2.82 billion, a P/E ratio of 53.55 and a beta of 1.84.

Enerflex (NYSE:EFXT) last posted its earnings results on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). The company had revenue of $582.00 million during the quarter, compared to the consensus estimate of $606.78 million. Enerflex had a return on equity of 11.76% and a net margin of 2.06%. Sell-side analysts forecast that Enerflex Ltd. will post 1.34 EPS for the current year.

Enerflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, August 19th. Enerflex’s dividend payout ratio is 27.91%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EFXT. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Enerflex during the 2nd quarter valued at about $330,515,000. TD Asset Management Inc boosted its holdings in shares of Enerflex by 31.8% in the fourth quarter. TD Asset Management Inc now owns 2,151,660 shares of the company’s stock worth $33,215,000 after buying an additional 518,639 shares during the last quarter. Bank of America Corp DE bought a new stake in Enerflex during the second quarter valued at approximately $30,569,000. Dimensional Fund Advisors LP increased its holdings in Enerflex by 33.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,208,011 shares of the company’s stock valued at $25,268,000 after buying an additional 303,398 shares during the last quarter. Finally, Cibc World Market Inc. purchased a new stake in Enerflex during the second quarter valued at approximately $15,851,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

About Enerflex

Enerflex Ltd. (NYSE: EFXT) is an energy infrastructure company that designs, engineers, manufactures, and operates equipment and facilities used in the processing, compression, and treatment of natural gas. Its solutions support the development, transportation, and utilization of natural gas and other hydrocarbons across upstream, midstream, and downstream applications.

The company provides natural gas compression, gas processing and treating, refrigeration, power generation, and related equipment and services.