Enerflex (NYSE:EFXT) Hits New 12-Month High – Time to Buy?

Enerflex Ltd. (NYSE:EFXT) hit a new 52-week high on Wednesday . The company traded as high as $16.87 and last traded at $16.77, with a volume of 34970 shares. The stock had previously closed at $16.22.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Enerflex from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Royal Bank Of Canada restated an “outperform” rating and set a $20.00 price target on shares of Enerflex in a research report on Thursday, January 15th. Zacks Research raised shares of Enerflex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Enerflex in a research report on Wednesday, October 8th. Finally, Raymond James Financial raised shares of Enerflex from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Enerflex presently has an average rating of “Buy” and a consensus price target of $14.63.

Enerflex Price Performance

The company has a current ratio of 1.24, a quick ratio of 0.88 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.03 billion, a P/E ratio of 15.17 and a beta of 1.96. The business’s fifty day moving average price is $14.81 and its 200-day moving average price is $11.82.

Enerflex (NYSE:EFXT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). Enerflex had a net margin of 5.43% and a return on equity of 12.35%. The business had revenue of $777.00 million for the quarter, compared to analysts’ expectations of $682.88 million. As a group, sell-side analysts predict that Enerflex Ltd. will post 0.25 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a $0.0425 dividend. This is a boost from Enerflex’s previous quarterly dividend of $0.04. The ex-dividend date was Monday, November 17th. This represents a $0.17 annualized dividend and a yield of 1.0%. Enerflex’s dividend payout ratio (DPR) is currently 10.91%.

Hedge Funds Weigh In On Enerflex

Several hedge funds and other institutional investors have recently modified their holdings of EFXT. Hillsdale Investment Management Inc. grew its holdings in shares of Enerflex by 435.9% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 4,701,464 shares of the company’s stock worth $50,695,000 after acquiring an additional 3,824,093 shares during the period. Millennium Management LLC increased its holdings in shares of Enerflex by 351.0% in the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock worth $8,747,000 after purchasing an additional 880,358 shares in the last quarter. Man Group plc increased its holdings in Enerflex by 433.7% in the 2nd quarter. Man Group plc now owns 1,069,556 shares of the company’s stock worth $8,426,000 after buying an additional 869,156 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Enerflex by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after purchasing an additional 752,893 shares during the last quarter. Finally, NewGen Equity Long Short Fund bought a new position in shares of Enerflex during the 2nd quarter valued at $5,628,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

About Enerflex

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.