Enerflex (NYSE:EFXT) Sets New 1-Year High - Here's Why

Enerflex Ltd. (NYSE:EFXT - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $8.95 and last traded at $8.88, with a volume of 27510 shares trading hands. The stock had previously closed at $8.84.

Analysts Set New Price Targets

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

Enerflex Price Performance

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's fifty day moving average price is $6.56 and its 200-day moving average price is $5.79. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -13.92 and a beta of 1.89.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.0268 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.11 dividend on an annualized basis and a yield of 1.22%. This is an increase from Enerflex's previous quarterly dividend of $0.02. Enerflex's payout ratio is -17.46%.

Institutional Trading of Enerflex

Several institutional investors and hedge funds have recently modified their holdings of EFXT. Acadian Asset Management LLC grew its position in Enerflex by 17,674.4% in the 2nd quarter. Acadian Asset Management LLC now owns 15,286 shares of the company's stock worth $81,000 after purchasing an additional 15,200 shares in the last quarter. West Tower Group LLC purchased a new stake in shares of Enerflex during the third quarter valued at approximately $119,000. Fiera Capital Corp lifted its holdings in Enerflex by 117.0% during the second quarter. Fiera Capital Corp now owns 24,830 shares of the company's stock worth $134,000 after acquiring an additional 13,390 shares during the period. Net Worth Advisory Group purchased a new position in Enerflex in the third quarter worth $146,000. Finally, Barclays PLC boosted its position in Enerflex by 2,616,800.0% in the third quarter. Barclays PLC now owns 26,169 shares of the company's stock worth $156,000 after purchasing an additional 26,168 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

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.