Enerflex $EFXT stock broke above key resistance on January 9, 2023, but has yet to confirm the break. The MACD also gave a buy signal on January 9, 2023. The stock is in a technical strong uptrend.
“The completion of the Exterran acquisition and strong global natural gas and energy transition market fundamentals, which has driven our combined backlog of $1.5 billion in modularized natural gas and carbon capture solutions, paves the way for the most exciting time in Enerflex’s forty-year history,” said Marc Rossiter, Enerflex’s President and Chief Executive Officer. “Our asset base of nearly two million horsepower of compression and over 25 gas plants worldwide provides cash flows that are low-risk, long-term, and diverse in geographies, counterparties, and commodity drivers. This stable portfolio of natural gas assets, the $1.5 billion backlog in Engineered Systems, and solid progress on three major Energy Infrastructure investments, will drive success on our three key value-creating priorities throughout 2023: strengthening our financial position; delivering on expected synergies; and growing our free cash flow, all in support of an attractive capital allocation framework.”