Enerflex (NYSE:EFXT) Hits New 52-Week High – Time to Buy?

Enerflex Ltd. (NYSE:EFXT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $9.90 and last traded at $9.90, with a volume of 320 shares changing hands. The stock had previously closed at $9.48.

Analyst Ratings Changes

Separately, Royal Bank of Canada lifted their price objective on shares of Enerflex from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

Enerflex Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. The business’s fifty day simple moving average is $7.87 and its two-hundred day simple moving average is $6.35. The company has a market cap of $1.20 billion, a PE ratio of -15.32 and a beta of 2.21.

Enerflex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be issued a $0.0268 dividend. This is a boost from Enerflex’s previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, November 26th. This represents a $0.11 dividend on an annualized basis and a yield of 1.11%. Enerflex’s payout ratio is presently -17.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new position in Enerflex in the third quarter valued at $65,000. Acadian Asset Management LLC increased its stake in shares of Enerflex by 17,674.4% during the second quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock worth $81,000 after purchasing an additional 15,200 shares in the last quarter. West Tower Group LLC purchased a new stake in shares of Enerflex during the third quarter worth about $119,000. Net Worth Advisory Group purchased a new stake in shares of Enerflex during the third quarter worth about $146,000. Finally, Fiera Capital Corp increased its stake in shares of Enerflex by 117.0% during the second quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock worth $134,000 after purchasing an additional 13,390 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

About Enerflex

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.