Enerflex Ltd (TSE:EFX) Announces Dividend Increase – $0.09 Per Share
Enerflex Ltd (TSE:EFX) announced a quarterly dividend on Monday, August 14th, Zacks reports. Investors of record on Thursday, August 24th will be paid a dividend of 0.085 per share on Thursday, October 12th. This represents a $0.34 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, August 22nd. This is an increase from Enerflex’s previous quarterly dividend of $0.06.
Shares of Enerflex (TSE:EFX) opened at 15.96 on Tuesday. The stock has a market capitalization of $1.41 billion and a price-to-earnings ratio of 78.24. The company has a 50-day moving average of $17.91 and a 200 day moving average of $18.34. Enerflex has a one year low of $12.54 and a one year high of $20.57.
In other news, insider Phillip Pyle acquired 4,500 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were bought at an average cost of C$16.60 per share, for a total transaction of C$74,700.00. Also, Director Kevin Jerome Reinhart acquired 1,750 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was purchased at an average price of C$17.05 per share, for a total transaction of C$29,837.50.
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A number of brokerages have issued reports on EFX. BMO Capital Markets decreased their price target on Enerflex from C$23.00 to C$21.00 in a research note on Monday. Royal Bank Of Canada raised their price target on Enerflex from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Monday, May 8th. Industrial Alliance Securities raised their price target 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. CIBC raised their price target on Enerflex from C$24.50 to C$25.00 in a research note on Wednesday, June 21st. Finally, Raymond James Financial, Inc. raised their price target 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. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Enerflex has a consensus rating of “Buy” and an average price target of C$23.06.
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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