Enerflex (NYSE:EFXT) Trading Up 3% Following Dividend Announcement

Enerflex Ltd. (NYSE:EFXT)’s share price was up 3% during mid-day trading on Friday after the company announced a dividend. The stock traded as high as $8.28 and last traded at $8.23. Approximately 54,048 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 180,164 shares. The stock had previously closed at $7.99.

The newly announced dividend which will be paid on Thursday, January 16th. Investors of record on Tuesday, November 26th will be given a $0.0268 dividend. This is an increase from Enerflex’s previous quarterly dividend of $0.02. This represents a $0.11 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Tuesday, November 26th. Enerflex’s payout ratio is currently -17.46%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their price target on Enerflex from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday.

Enerflex Stock Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 0.93. The business has a 50-day moving average of $6.43 and a 200-day moving average of $5.75. The company has a market capitalization of $1.03 billion, a P/E ratio of -13.24 and a beta of 1.89.

Institutional Trading of Enerflex

Several institutional investors have recently added to or reduced their stakes in EFXT. Clearbridge Investments LLC increased its stake in Enerflex by 16.3% in the 2nd quarter. Clearbridge Investments LLC now owns 567,366 shares of the company’s stock worth $3,064,000 after buying an additional 79,419 shares during the period. Marshall Wace LLP raised its stake in shares of Enerflex by 183.4% during the second quarter. Marshall Wace LLP now owns 218,505 shares of the company’s stock valued at $1,180,000 after acquiring an additional 141,393 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Enerflex during the third quarter valued at approximately $730,000. The Manufacturers Life Insurance Company grew its stake in Enerflex by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 179,088 shares of the company’s stock worth $965,000 after purchasing an additional 7,700 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Enerflex by 6.2% in the first quarter. 1832 Asset Management L.P. now owns 8,901,000 shares of the company’s stock worth $51,893,000 after purchasing an additional 516,300 shares in the last quarter. 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.