Royal Bank of Canada Forecasts Strong Price Appreciation for Enerflex (NYSE:EFXT) Stock

Enerflex (NYSE:EFXT - Free Report) had its price target lifted by Royal Bank of Canada from $9.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Enerflex Price Performance

NYSE:EFXT traded up $0.35 during midday trading on Friday, hitting $8.34. The company had a trading volume of 445,064 shares, compared to its average volume of 182,021. Enerflex has a 52-week low of $4.01 and a 52-week high of $8.48. The stock's fifty day moving average price is $6.43 and its 200-day moving average price is $5.75. The company has a market capitalization of $1.03 billion, a PE ratio of -13.24 and a beta of 1.89. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 0.92.

Enerflex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, November 26th will be given a $0.0268 dividend. 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 1.29%. Enerflex's payout ratio is -17.46%.

Institutional Trading of Enerflex

Several hedge funds have recently added to or reduced their stakes in EFXT. Mackenzie Financial Corp lifted its stake in Enerflex by 57.9% in 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 last quarter. 1832 Asset Management L.P. raised its stake in shares of Enerflex by 16.1% during the second quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company's stock valued at $55,819,000 after acquiring an additional 1,435,900 shares during the last quarter. Taconic Capital Advisors LP raised its stake 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 valued at $10,559,000 after acquiring an additional 465,000 shares during the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of Enerflex by 14.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company's stock valued at $7,376,000 after acquiring an additional 152,990 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Enerflex by 183.4% during the second quarter. Marshall Wace LLP now owns 218,505 shares of the company's stock valued at $1,180,000 after acquiring an additional 141,393 shares during the last quarter. 46.47% of the stock is owned by 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.