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

Enerflex Ltd. (NYSE:EFXT) gapped up prior to trading on Thursday after the company announced a dividend. 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 traded.

The newly announced dividend which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 11th. Enerflex’s payout ratio is currently 10.91%.

Wall Street Analyst Weigh In

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

Enerflex Trading Up 17.1%

The firm’s 50-day simple moving average is $17.13 and its 200 day simple moving average is $13.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 0.88. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 21.15 and a beta of 1.95.

Institutional Trading of Enerflex

Several large investors have recently bought and sold shares of EFXT. Hillsdale Investment Management Inc. grew its position in Enerflex by 435.9% in the third quarter. Hillsdale Investment Management Inc. now owns 4,701,464 shares of the company’s stock valued at $50,695,000 after acquiring an additional 3,824,093 shares during the last quarter. Millennium Management LLC boosted its stake 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 valued at $8,747,000 after purchasing an additional 880,358 shares in the last quarter. Man Group plc grew its holdings in shares of Enerflex by 433.7% during the 2nd quarter. Man Group plc now owns 1,069,556 shares of the company’s stock valued at $8,426,000 after purchasing an additional 869,156 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Enerflex by 51.9% in the 1st 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 in the 2nd quarter valued at $5,628,000. 46.47% of the stock is owned by institutional investors and hedge funds.

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.