Enerflex (NYSE:EFXT) Shares Up 4.7% - Still a Buy?

Enerflex Ltd. (NYSE:EFXT - Get Free Report)'s stock price traded up 4.7% during trading on Tuesday . The stock traded as high as $6.86 and last traded at $6.85. 74,999 shares changed hands during trading, a decline of 72% from the average session volume of 268,453 shares. The stock had previously closed at $6.54.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lowered their target price on shares of Enerflex from $14.00 to $12.00 and set an "outperform" rating on the stock in a research note on Thursday.

Enerflex Stock Performance

The company has a 50-day moving average of $7.68 and a 200 day moving average of $8.32. The firm has a market capitalization of $834.91 million, a PE ratio of -10.67 and a beta of 1.95. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a $0.026 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Monday, March 10th. Enerflex's dividend payout ratio is currently 40.00%.

Hedge Funds Weigh In On Enerflex

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of Enerflex by 2,616,800.0% during the 3rd quarter. Barclays PLC now owns 26,169 shares of the company's stock worth $156,000 after acquiring an additional 26,168 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Enerflex in the 3rd quarter worth about $344,000. JPMorgan Chase & Co. increased its position in shares of Enerflex by 55.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 77,749 shares of the company's stock valued at $463,000 after purchasing an additional 27,878 shares during the last quarter. Canoe Financial LP raised its holdings in shares of Enerflex by 10.2% during the 4th quarter. Canoe Financial LP now owns 8,276,972 shares of the company's stock valued at $82,342,000 after buying an additional 768,210 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Enerflex in the 4th quarter worth approximately $43,935,000. Hedge funds and other 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.