Enerflex (NYSE:EFXT) Shares Gap Up Following Dividend Announcement

Enerflex Ltd. (NYSE:EFXT) gapped up prior to trading on Thursday after the company announced a dividend. The stock had previously closed at $19.86, but opened at $21.63. Enerflex shares last traded at $22.4660, with a volume of 63,595 shares.

The newly announced dividend which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be paid a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 11th. Enerflex’s dividend payout ratio (DPR) is currently 10.91%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EFXT shares. Zacks Research lowered shares of Enerflex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Enerflex in a research report on Wednesday, January 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Enerflex in a report on Thursday, January 15th. Raymond James Financial lowered shares of Enerflex from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Wall Street Zen downgraded Enerflex from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.63.

Enerflex Stock Performance

The company has a market cap of $2.76 billion, a P/E ratio of 20.69 and a beta of 1.95. The company’s fifty day moving average is $16.96 and its 200 day moving average is $13.66. The company has a current ratio of 1.24, a quick ratio of 0.88 and a debt-to-equity ratio of 0.61.

Institutional Investors Weigh In On Enerflex

Hedge funds and other institutional investors have recently modified their holdings of the stock. 1832 Asset Management L.P. grew its position in Enerflex by 6.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,509,600 shares of the company’s stock worth $59,251,000 after acquiring an additional 454,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Enerflex by 0.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,735,102 shares of the company’s stock valued at $61,841,000 after purchasing an additional 36,477 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Enerflex by 4.0% during the fourth quarter. Mackenzie Financial Corp now owns 4,878,942 shares of the company’s stock valued at $76,327,000 after purchasing an additional 186,649 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Enerflex by 435.9% in the third quarter. Hillsdale Investment Management Inc. now owns 4,701,464 shares of the company’s stock worth $50,695,000 after purchasing an additional 3,824,093 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Enerflex by 51.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock worth $17,031,000 after buying an additional 752,893 shares during the period. Institutional investors own 46.47% of the company’s stock.

Enerflex Company Profile

Enerflex Ltd is a Calgary‐headquartered energy infrastructure company specializing in the design, fabrication, installation and aftermarket support of natural gas compression, processing, refrigeration and treatment equipment. Its product portfolio includes reciprocating and centrifugal compression systems, gas treating and refrigeration packages, fuel gas conditioning and liquid separation solutions. In addition to equipment sales, Enerflex delivers field services such as commissioning, maintenance, monitoring and parts supply to optimize asset performance throughout the lifecycle.

The company supports upstream, midstream and downstream energy customers through an integrated offering that spans engineering, procurement and construction (EPC) as well as modular fabrication.