Royal Bank Of Canada Issues Positive Forecast for Enerflex (NYSE:EFXT) Stock Price

Enerflex (NYSE:EFXT) had its target price lifted by Royal Bank Of Canada from $20.00 to $26.00 in a research note released on Tuesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently commented on EFXT. Raymond James Financial cut Enerflex from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Enerflex in a research report on Wednesday, January 21st. Zacks Research raised Enerflex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen cut Enerflex from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Enerflex currently has an average rating of “Moderate Buy” and an average target price of $17.63.

Enerflex Stock Performance

Shares of EFXT opened at $22.67 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $20.57 and its 200-day moving average price is $16.38. Enerflex has a 52 week low of $6.36 and a 52 week high of $23.82. The stock has a market cap of $2.76 billion, a P/E ratio of 44.45 and a beta of 1.83.

Enerflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.0425 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. Enerflex’s payout ratio is currently 23.53%.

Institutional Investors Weigh In On Enerflex

A number of hedge funds have recently added to or reduced their stakes in EFXT. Hillsdale Investment Management Inc. raised its stake in Enerflex by 435.9% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 4,701,464 shares of the company’s stock valued at $50,695,000 after buying an additional 3,824,093 shares during the last quarter. Millennium Management LLC raised its stake in Enerflex by 351.0% during the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock valued at $8,747,000 after buying an additional 880,358 shares during the last quarter. Man Group plc raised its stake in 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 buying an additional 869,156 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Enerflex by 51.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after buying an additional 752,893 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Enerflex by 31.8% during the 4th quarter. TD Asset Management Inc now owns 2,151,660 shares of the company’s stock valued at $33,215,000 after buying an additional 518,639 shares during the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

About Enerflex

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.