Enerflex (TSE:EFX) Shares Pass Above 200 Day Moving Average - Here's Why

Enerflex Ltd. (TSE:EFX - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.73 and traded as high as C$13.66. Enerflex shares last traded at C$13.40, with a volume of 410,952 shares trading hands.

Analysts Set New Price Targets

EFX has been the topic of a number of recent research reports. TD Securities increased their price target on shares of Enerflex from C$12.00 to C$15.00 and gave the company a "buy" rating in a research report on Friday, November 15th. ATB Capital increased their price target on shares of Enerflex from C$15.00 to C$17.00 in a research report on Tuesday, December 10th. Acumen Capital increased their price target on shares of Enerflex from C$12.00 to C$15.00 in a research report on Friday, November 15th. BMO Capital Markets increased their price target on shares of Enerflex from C$11.00 to C$15.00 in a research report on Friday, November 15th. Finally, National Bankshares increased their price target on shares of Enerflex from C$11.00 to C$16.00 and gave the company a "sector perform" rating in a research report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$13.47.

Enerflex Price Performance

The company has a quick ratio of 1.20, a current ratio of 1.19 and a debt-to-equity ratio of 81.27. The stock has a market cap of C$1.61 billion, a P/E ratio of -14.06 and a beta of 1.71. The firm's fifty day moving average price is C$14.08 and its 200-day moving average price is C$10.83.

Enerflex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 16th were issued a $0.0375 dividend. This is a boost from Enerflex's previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, November 26th. This represents a $0.15 annualized dividend and a dividend yield of 1.16%. Enerflex's dividend payout ratio (DPR) is currently -10.86%.

Insider Activity at Enerflex

In related news, Director Joanne Linette Cox purchased 2,500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price of C$13.65 per share, with a total value of C$34,115.00. 0.49% of the stock is currently owned by company insiders.

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.