Enerflex (NYSE:EFXT) Reaches New 12-Month High - Here's Why

Enerflex Ltd. (NYSE:EFXT - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $9.88 and last traded at $9.82, with a volume of 57337 shares changing hands. The stock had previously closed at $9.83.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada boosted their target price on shares of Enerflex from $9.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, November 15th.

Enerflex Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. The business has a 50-day simple moving average of $8.30 and a two-hundred day simple moving average of $6.56. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -15.57 and a beta of 2.21.

Enerflex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.0268 per share. The ex-dividend date is Tuesday, November 26th. This is a positive change from Enerflex's previous quarterly dividend of $0.02. This represents a $0.11 dividend on an annualized basis and a dividend yield of 1.09%. Enerflex's payout ratio is presently -17.46%.

Institutional Investors Weigh In On Enerflex

Several hedge funds have recently added to or reduced their stakes in the business. Clearbridge Investments LLC boosted its holdings in shares of Enerflex by 16.3% during the second quarter. Clearbridge Investments LLC now owns 567,366 shares of the company's stock worth $3,064,000 after acquiring an additional 79,419 shares during the period. International Assets Investment Management LLC bought a new stake in Enerflex in the 3rd quarter valued at $730,000. Marshall Wace LLP grew its holdings in Enerflex by 183.4% in the 2nd quarter. Marshall Wace LLP now owns 218,505 shares of the company's stock valued at $1,180,000 after buying an additional 141,393 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Enerflex in the 3rd quarter valued at $344,000. Finally, The Manufacturers Life Insurance Company increased its position in Enerflex by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 179,088 shares of the company's stock worth $965,000 after buying an additional 7,700 shares during the period. Institutional investors and hedge funds own 46.47% of the company's stock.

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.