Enerflex Ltd. (NYSE:EFXT) Stock Has Average Price Target of $38.00

Shares of Enerflex Ltd. (NYSE:EFXT) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $38.00.

A number of brokerages have recently weighed in on EFXT. Weiss Ratings upgraded Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Canadian Imperial Bank of Commerce set a $35.00 price target on Enerflex and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. TD Securities downgraded shares of Enerflex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Zacks Research raised shares of Enerflex from a “strong sell” rating to a “hold” rating in a report on Friday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Enerflex in a report on Friday, October 16th.

Enerflex Trading Up 2.9%

Shares of EFXT stock opened at $19.42 on Friday. The stock has a fifty day simple moving average of $23.10 and a two-hundred day simple moving average of $22.66. The firm has a market capitalization of $2.37 billion, a PE ratio of 33.49 and a beta of 1.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.23. Enerflex has a 52-week low of $12.57 and a 52-week high of $29.15.

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

Enerflex Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be paid a C$0.04 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.7%. This is a decrease from Enerflex’s previous quarterly dividend of C$0.04. The ex-dividend date of this dividend is Thursday, November 12th. Enerflex’s dividend payout ratio is 20.69%.

Institutional Investors Weigh In On Enerflex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new position in Enerflex in the 2nd quarter valued at $30,000. Integrated Wealth Concepts LLC bought a new stake in Enerflex during the second quarter worth approximately $79,000. Deutsche Bank AG purchased a new position in Enerflex during the second quarter valued at approximately $158,000. Wellington Altus USA Inc. bought a new stake in Enerflex during the second quarter valued at about $185,000. Finally, Independent Financial Group LLC acquired a new position in Enerflex in the first quarter worth about $221,000. Hedge funds and other institutional investors 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.