Enerflex (NYSE:EFXT) Reaches New 12-Month High – Still a Buy?

Enerflex Ltd. (NYSE:EFXT)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $19.95 and last traded at $19.96, with a volume of 247237 shares changing hands. The stock had previously closed at $19.31.

Analyst Ratings Changes

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

Enerflex Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.24 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.83 billion, a PE ratio of 18.06 and a beta of 1.95. The company’s fifty day moving average is $17.13 and its 200 day moving average is $13.72.

Enerflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 11th. Enerflex’s payout ratio is currently 10.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of Enerflex by 351.0% in the first quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock worth $8,747,000 after acquiring an additional 880,358 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Enerflex by 984.3% in the first quarter. NewEdge Advisors LLC now owns 22,791 shares of the company’s stock valued at $176,000 after acquiring an additional 20,689 shares during the period. Goldman Sachs Group Inc. grew 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 worth $17,031,000 after buying an additional 752,893 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Enerflex by 26.7% during the second quarter. Envestnet Asset Management Inc. now owns 141,524 shares of the company’s stock worth $1,117,000 after acquiring an additional 29,821 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in Enerflex by 314.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 162,696 shares of the company’s stock worth $1,284,000 after purchasing an additional 123,476 shares during the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.

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.