Enerflex Ltd. (NYSE:EFXT) Declares Dividend of $0.04

Enerflex Ltd. (NYSE:EFXT) announced a dividend on Saturday, May 17th, investing.com reports. Investors of record on Thursday, May 22nd will be given a dividend of 0.0375 per share on Tuesday, June 3rd. This represents a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, May 21st.

Enerflex has raised its dividend by an average of 9.8% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Enerflex has a dividend payout ratio of 16.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Enerflex to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 13.6%.

Enerflex Price Performance

Shares of NYSE EFXT opened at $7.10 on Monday. Enerflex has a twelve month low of $4.60 and a twelve month high of $10.61. The company has a market capitalization of $881.22 million, a PE ratio of -11.27 and a beta of 2.02. The stock’s 50 day moving average price is $7.03 and its 200-day moving average price is $8.38. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.79.

Enerflex (NYSE:EFXT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.07. The company had revenue of $552.00 million during the quarter, compared to the consensus estimate of $583.59 million. Enerflex had a negative return on equity of 1.25% and a negative net margin of 3.15%. On average, equities analysts anticipate that Enerflex will post 0.25 EPS for the current year.

Institutional Trading of Enerflex

A number of large investors have recently modified their holdings of EFXT. Millennium Management LLC boosted its position in shares of Enerflex by 351.0% during the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock valued at $8,747,000 after acquiring an additional 880,358 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Enerflex by 984.3% during the 1st quarter. NewEdge Advisors LLC now owns 22,791 shares of the company’s stock valued at $176,000 after acquiring an additional 20,689 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Enerflex by 51.9% during the 1st 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 during the last quarter. Institutional investors own 46.47% of the company’s stock.

Analyst Upgrades and Downgrades

EFXT has been the subject of several research reports. Royal Bank of Canada cut their price target on Enerflex from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. CIBC cut their target price on Enerflex from $10.00 to $9.25 and set a “neutral” rating for the company in a research note on Friday, May 9th.

Enerflex Company Profile

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.