Enerflex Ltd (EFX) Shares Up 5.9%

Enerflex Ltd (TSE:EFX) shot up 5.9% on Wednesday . The company traded as high as C$18.56 and last traded at C$18.45. 281,320 shares were traded during trading, an increase of 71% from the average session volume of 164,879 shares. The stock had previously closed at C$17.42.

A number of brokerages have weighed in on EFX. CIBC decreased their target price on shares of Enerflex from C$25.00 to C$24.00 in a research note on Thursday, July 20th. Industrial Alliance Securities upped their price objective on Enerflex from C$23.00 to C$23.50 and gave the stock a “strong-buy” rating in a research note on Wednesday, June 21st. Raymond James Financial, Inc. upped their price objective on Enerflex from C$21.50 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 21st. Finally, BMO Capital Markets reduced their price objective on Enerflex from C$23.00 to C$21.00 in a research note on Monday, August 14th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of C$23.06.

The company has a 50 day moving average of $16.03 and a 200-day moving average of $17.89. The company has a market capitalization of $1.63 billion and a PE ratio of 90.25.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Thursday, August 24th will be given a dividend of $0.085 per share. The ex-dividend date is Tuesday, August 22nd. This is an increase from Enerflex’s previous quarterly dividend of $0.06. This represents a $0.34 dividend on an annualized basis and a yield of 1.85%.

In other Enerflex news, Director Kevin Jerome Reinhart bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of C$15.65 per share, for a total transaction of C$31,300.00.

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About Enerflex

Enerflex Ltd. is a Canada-based supplier of natural gas compression, oil and gas processing, refrigeration systems and electric power equipment. The Company’s in‐house resources provide the capability to engineer, design, manufacture, construct, commission and service hydrocarbon handling systems. The Company operates through three segments: Canada, USA and Rest of World.

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