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

Enerflex Ltd. (NYSE:EFXT)’s stock price gapped up prior to trading on Thursday following a dividend announcement from the company. 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 trading hands.

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. The ex-dividend date is Wednesday, March 11th. This represents a $0.17 annualized dividend and a yield of 0.7%. Enerflex’s dividend payout ratio is presently 10.91%.

Analysts Set New Price Targets

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

Enerflex Price Performance

The business has a fifty day moving average of $16.96 and a 200-day moving average of $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. The firm has a market cap of $2.76 billion, a PE ratio of 20.69 and a beta of 1.95.

Institutional Trading of Enerflex

Several institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC bought a new position in shares of Enerflex in the fourth quarter worth $31,000. Plato Investment Management Ltd grew its position in Enerflex by 399.4% during the fourth quarter. Plato Investment Management Ltd now owns 4,664 shares of the company’s stock worth $72,000 after buying an additional 3,730 shares in the last quarter. D Orazio & Associates Inc. purchased a new position in Enerflex during the second quarter worth about $80,000. Vise Technologies Inc. bought a new position in Enerflex in the 2nd quarter worth about $85,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Enerflex in the 4th quarter valued at about $119,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

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.