Enerflex (NYSE:EFXT) Shares Gap Up – Here’s Why

Enerflex Ltd. (NYSE:EFXT)’s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $24.08, but opened at $25.73. Enerflex shares last traded at $27.6030, with a volume of 174,264 shares trading hands.

Analyst Upgrades and Downgrades

EFXT has been the subject of several analyst reports. Weiss Ratings raised shares of Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Acumen Capital raised shares of Enerflex to a “strong-buy” rating in a research report on Friday, October 2nd. Zacks Research cut Enerflex from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Wall Street Zen lowered Enerflex from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Enerflex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.67.

Enerflex Trading Up 12.7%

The company has a market cap of $3.31 billion, a PE ratio of 63.42 and a beta of 1.80. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $22.15 and a 200-day simple moving average of $23.47.

Enerflex (NYSE:EFXT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.06). Enerflex had a return on equity of 11.76% and a net margin of 2.06%. The firm had revenue of $582.00 million for the quarter, compared to analysts’ expectations of $606.78 million. On average, analysts predict that Enerflex Ltd. will post 1.34 EPS for the current fiscal year.

Enerflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a C$0.04 dividend. This represents a $0.17 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, August 19th. Enerflex’s payout ratio is currently 27.91%.

Institutional Trading of Enerflex

Several hedge funds have recently made changes to their positions in EFXT. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enerflex in the second quarter valued at approximately $330,515,000. Bank of America Corp DE purchased a new stake in Enerflex during the 2nd quarter worth approximately $30,569,000. Dimensional Fund Advisors LP increased its stake in Enerflex by 33.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,208,011 shares of the company’s stock worth $25,268,000 after buying an additional 303,398 shares during the period. Cibc World Market Inc. acquired a new stake in Enerflex during the 2nd quarter worth approximately $15,851,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in Enerflex by 74.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock worth $13,170,000 after buying an additional 238,574 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

About Enerflex

Enerflex Ltd. (NYSE: EFXT) is a global provider of natural gas infrastructure and energy solutions. The company designs, engineers, manufactures, commissions and operates equipment and facilities used to process, compress, treat and transport natural gas and other hydrocarbons.

Its products and services include natural gas compression, gas processing and treating systems, refrigeration and power-generation equipment, and related engineering, procurement and construction services. Enerflex also provides aftermarket support, including parts, maintenance, technical services and contract operations for energy infrastructure.

Headquartered in Calgary, Alberta, Enerflex serves energy producers and infrastructure operators across multiple international markets, including North America, Latin America, the Middle East and Australia.