Enerflex Ltd. (NYSE:EFXT) Stock Has Consensus Price Target of $38.00 According to Brokerages

Enerflex Ltd. (NYSE:EFXT) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $38.00.

EFXT has been the subject of a number of research reports. TD Securities cut shares of Enerflex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank Of Canada dropped their price target on Enerflex from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 30th. Acumen Capital raised Enerflex to a “strong-buy” rating in a research report on Friday, October 2nd. Wall Street Zen raised shares of Enerflex from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Zacks Research raised shares of Enerflex from a “strong sell” rating to a “hold” rating in a research note on Friday, October 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cibc World Market Inc. purchased a new stake in shares of Enerflex in the second quarter valued at about $15,851,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Enerflex by 240.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 466,627 shares of the company’s stock valued at $9,763,000 after acquiring an additional 329,469 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Enerflex during the 2nd quarter worth approximately $30,569,000. TD Waterhouse Canada Inc. grew its stake in Enerflex by 74.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock valued at $13,170,000 after acquiring an additional 238,574 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Enerflex by 21.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 408,015 shares of the company’s stock valued at $8,506,000 after buying an additional 70,818 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Enerflex Trading Up 2.9%

NYSE EFXT opened at $19.42 on Friday. The stock has a market cap of $2.37 billion, a P/E ratio of 33.49 and a beta of 1.79. The company’s fifty day simple moving average is $23.10 and its 200-day simple moving average is $22.66. The company has a current ratio of 1.23, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. Enerflex has a 52 week low of $12.57 and a 52 week high of $29.15.

Enerflex (NYSE:EFXT) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.12. The business had revenue of $623.00 million for the quarter, compared to the consensus estimate of $632.70 million. Enerflex had a return on equity of 13.15% and a net margin of 2.94%. Equities research analysts predict that Enerflex will post 1.42 EPS for the current fiscal year.

Enerflex Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Thursday, November 12th will be issued a dividend of C$0.04 per share. This represents a $0.14 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, November 12th. This is a negative change from Enerflex’s previous quarterly dividend of C$0.04. Enerflex’s payout ratio is currently 20.69%.

About Enerflex

Enerflex Ltd. (NYSE: EFXT) is a Calgary-based energy infrastructure company that provides equipment, services and solutions for the processing, compression and transportation of natural gas. Its offerings support energy producers, midstream operators and industrial customers across the natural gas value chain.

The company designs, engineers, manufactures, commissions and services natural gas compression systems, gas processing and treating facilities, refrigeration and cryogenic systems, and electric power generation equipment.