Enersys (NYSE:ENS) Reaches New 52-Week High - Here's What Happened

Key Points

• Enersys shares reached a new 12-month high of $109.12 during trading, indicating strong investor interest with robust volume of 23,701 shares.
• Brokerages have upgraded Enersys to a "buy" rating, with an average price target of $118.33, reflecting positive analyst sentiment.
• The company announced an increase in its quarterly dividend to $0.2625 per share, translating to an annualized yield of 1.0%, showcasing its commitment to returning value to shareholders.

Enersys (NYSE:ENS - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $109.12 and last traded at $108.79, with a volume of 23701 shares traded. The stock had previously closed at $107.79.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENS. Wall Street Zen downgraded shares of Enersys from a "buy" rating to a "hold" rating in a research note on Saturday. Roth Capital reaffirmed a "buy" rating and set a $120.00 price objective on shares of Enersys in a research note on Tuesday, August 5th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Enersys in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Enersys has a consensus rating of "Buy" and an average target price of $118.33.

Enersys Stock Down 1.5%

The company's 50 day moving average price is $98.14 and its two-hundred day moving average price is $92.12. The company has a current ratio of 3.00, a quick ratio of 1.91 and a debt-to-equity ratio of 0.68. The stock has a market cap of $4.11 billion, a P/E ratio of 12.53, a PEG ratio of 0.63 and a beta of 1.09.

Enersys (NYSE:ENS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.03. The firm had revenue of $893.00 million for the quarter, compared to analysts' expectations of $848.02 million. Enersys had a net margin of 9.60% and a return on equity of 21.99%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 EPS. Equities analysts forecast that Enersys will post 9.99 earnings per share for the current year.

Enersys Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.2625 per share. This is an increase from Enersys's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.05 dividend on an annualized basis and a yield of 1.0%. Enersys's payout ratio is 11.99%.

Institutional Trading of Enersys

Institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. lifted its position in Enersys by 23.1% in the first quarter. QRG Capital Management Inc. now owns 7,046 shares of the industrial products company's stock worth $645,000 after buying an additional 1,323 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Enersys by 74.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 68,542 shares of the industrial products company's stock worth $6,339,000 after buying an additional 29,268 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Enersys by 11.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,760 shares of the industrial products company's stock worth $1,077,000 after purchasing an additional 1,165 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Enersys by 284.6% during the first quarter. GAMMA Investing LLC now owns 1,346 shares of the industrial products company's stock worth $123,000 after purchasing an additional 996 shares during the last quarter. Finally, CX Institutional bought a new stake in shares of Enersys during the first quarter worth $69,000. 94.93% of the stock is currently owned by institutional investors.

Enersys Company Profile

EnerSys engages in the provision of stored energy solutions for industrial applications worldwide. It operates in four segments: Energy Systems, Motive Power, Specialty, and New Ventures. The Energy Systems segment offers uninterruptible power systems (UPS) applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.