Enerflex (NYSE:EFXT) Sets New 52-Week High - Should You Buy?

Enerflex Ltd. (NYSE:EFXT - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $10.21 and last traded at $10.16, with a volume of 147658 shares trading hands. The stock had previously closed at $9.95.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada increased their price target on Enerflex from $9.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, November 15th.

Enerflex Stock Up 2.3 %

The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -16.16 and a beta of 2.21. The business's 50-day moving average is $8.71 and its two-hundred day moving average is $6.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.19.

Enerflex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.0268 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This is a positive change from Enerflex's previous quarterly dividend of $0.02. This represents a $0.11 annualized dividend and a yield of 1.05%. Enerflex's payout ratio is currently -17.46%.

Hedge Funds Weigh In On Enerflex

Institutional investors have recently modified their holdings of the business. 1832 Asset Management L.P. boosted its stake in Enerflex by 16.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company's stock worth $55,819,000 after purchasing an additional 1,435,900 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Enerflex by 57.9% in the second quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company's stock valued at $23,631,000 after purchasing an additional 1,606,236 shares in the last quarter. Taconic Capital Advisors LP boosted its position in shares of Enerflex by 35.6% during the third quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company's stock worth $10,559,000 after buying an additional 465,000 shares during the period. PCJ Investment Counsel Ltd. raised its position in Enerflex by 14.1% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company's stock valued at $7,376,000 after buying an additional 152,990 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its position in Enerflex by 3.0% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,036,274 shares of the company's stock valued at $6,175,000 after buying an additional 29,830 shares during the last quarter. Institutional investors own 46.47% of the company's stock.

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.