Enerflex (TSE:EFX) Reaches New 12-Month High – Here’s What Happened

Enerflex Ltd. (TSE:EFX) shares reached a new 52-week high on Wednesday . The company traded as high as C$23.25 and last traded at C$23.12, with a volume of 90669 shares traded. The stock had previously closed at C$22.40.

Analyst Ratings Changes

Several research firms have weighed in on EFX. Desjardins upped their target price on Enerflex from C$14.50 to C$17.50 and gave the company a “sector perform” rating in a report on Monday, October 20th. Raymond James Financial upgraded shares of Enerflex from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from C$24.50 to C$25.00 in a report on Wednesday, December 10th. Royal Bank Of Canada upped their price target on shares of Enerflex from C$15.00 to C$17.00 and gave the company an “outperform” rating in a report on Friday, November 7th. BMO Capital Markets raised their price objective on shares of Enerflex from C$20.00 to C$23.00 in a research note on Monday, November 10th. Finally, TD Securities lifted their price objective on Enerflex from C$19.00 to C$23.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Enerflex has a consensus rating of “Moderate Buy” and an average price target of C$21.34.

Enerflex Stock Performance

The company has a market cap of C$2.85 billion, a P/E ratio of 21.28 and a beta of 2.28. The company has a quick ratio of 1.20, a current ratio of 1.19 and a debt-to-equity ratio of 81.27. The company has a 50 day moving average price of C$20.72 and a 200-day moving average price of C$16.49.

Enerflex (TSE:EFX) last posted its quarterly earnings data on Thursday, November 6th. The company reported C$0.30 earnings per share for the quarter. The business had revenue of C$1.08 billion during the quarter. Enerflex had a negative net margin of 3.72% and a negative return on equity of 8.76%. Equities analysts expect that Enerflex Ltd. will post 0.734413 EPS for the current fiscal year.

Enerflex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, December 1st were issued a dividend of $0.0425 per share. The ex-dividend date of this dividend was Monday, November 17th. This is a positive change from Enerflex’s previous quarterly dividend of $0.04. This represents a $0.17 annualized dividend and a yield of 0.7%. Enerflex’s dividend payout ratio is presently 9.77%.

Insiders Place Their Bets

In other news, insider Paul Mahoney purchased 18,250 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was purchased at an average cost of C$13.70 per share, with a total value of C$250,025.00. Following the purchase, the insider owned 36,500 shares in the company, valued at C$500,050. This trade represents a 100.00% increase in their position. 0.49% of the stock is owned by company insiders.

About Enerflex

Enerflex Ltd engineers, designs, manufactures and provides aftermarket support for equipment, systems, and turnkey facilities used to process and move natural gas from the wellhead to the pipeline. The company’s focus is gas compression, where it offers a range of applications and gas inlet streams, from low-horsepower/low-pressure applications such as a coal seam gas and solution gas vapor recovery units to high-horsepower, centralized field, or processing plant compression. Enerflex operates three business segments: the USA, Rest of World, and Canada.