Enerflex (NYSE:EFXT) Stock Price Up 2.1% - Here's Why

Shares of Enerflex Ltd. (NYSE:EFXT - Get Free Report) rose 2.1% during trading on Monday . The company traded as high as $9.95 and last traded at $9.91. Approximately 79,335 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 211,002 shares. The stock had previously closed at $9.71.

Analysts Set New Price Targets

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

Enerflex Stock Performance

The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -15.89 and a beta of 2.21. The firm's 50-day moving average price is $8.49 and its two-hundred day moving average price is $6.68. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders 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 represents a $0.11 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Enerflex's previous quarterly dividend of $0.02. Enerflex's dividend payout ratio (DPR) is currently -17.46%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. lifted its holdings in shares of 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 acquiring an additional 1,435,900 shares during the last quarter. Mackenzie Financial Corp increased its stake in Enerflex by 57.9% during the second quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company's stock worth $23,631,000 after purchasing an additional 1,606,236 shares during the period. Taconic Capital Advisors LP lifted 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 purchasing an additional 465,000 shares in the last quarter. PCJ Investment Counsel Ltd. boosted its stake in shares of Enerflex by 14.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company's stock valued at $7,376,000 after purchasing an additional 152,990 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. grew its stake in shares of Enerflex by 3.0% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,036,274 shares of the company's stock worth $6,175,000 after acquiring an additional 29,830 shares in the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

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.