Enerflex (NYSE:EFXT) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Enerflex Ltd. (NYSE:EFXT)’s stock price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $22.78 and traded as high as $23.81. Enerflex shares last traded at $23.43, with a volume of 530,601 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Enerflex from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research lowered shares of Enerflex from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Royal Bank Of Canada lifted their price target on shares of Enerflex from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 14th. Canadian Imperial Bank of Commerce set a $35.00 price target on shares of Enerflex and gave the company an “outperform” rating in a research report on Tuesday, October 13th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Enerflex in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Enerflex Trading Up 3.0%

The business has a 50-day moving average of $22.78 and a 200-day moving average of $22.36. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 54.49 and a beta of 1.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19.

Enerflex (NYSE:EFXT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.06). The firm had revenue of $582.00 million for the quarter, compared to analyst estimates of $606.78 million. Enerflex had a return on equity of 11.76% and a net margin of 2.06%. As a group, research analysts forecast that Enerflex Ltd. will post 1.32 EPS for the current year.

Enerflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a C$0.04 dividend. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Enerflex’s dividend payout ratio is presently 27.91%.

Institutional Investors Weigh In On Enerflex

Hedge funds have recently made changes to their positions in the business. Baron Wealth Management LLC grew its holdings in Enerflex by 2.5% during the second quarter. Baron Wealth Management LLC now owns 30,530 shares of the company’s stock worth $748,000 after acquiring an additional 751 shares during the period. Pictet Asset Management Holding SA raised its position in Enerflex by 4.4% in the first quarter. Pictet Asset Management Holding SA now owns 24,089 shares of the company’s stock worth $502,000 after acquiring an additional 1,017 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Enerflex in the second quarter valued at $30,000. Kathmere Capital Management LLC lifted its holdings in Enerflex by 12.0% in the first quarter. Kathmere Capital Management LLC now owns 22,587 shares of the company’s stock valued at $473,000 after acquiring an additional 2,422 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in Enerflex in the second quarter valued at $79,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

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.