EnerSys (NYSE:ENS) announced a quarterly dividend on Thursday, February 8th, Wall Street Journal reports. Investors of record on Friday, March 16th will be paid a dividend of 0.175 per share by the industrial products company on Friday, March 30th. This represents a $0.70 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, March 15th.
EnerSys has raised its dividend by an average of 2.5% per year over the last three years. EnerSys has a payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect EnerSys to earn $5.10 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 13.7%.
Shares of EnerSys (NYSE:ENS) traded up $4.20 during mid-day trading on Thursday, reaching $70.68. 754,402 shares of the company traded hands, compared to its average volume of 270,317. EnerSys has a one year low of $61.33 and a one year high of $84.74. The stock has a market cap of $3,120.00, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 2.41 and a beta of 1.60. The company has a quick ratio of 2.49, a current ratio of 3.43 and a debt-to-equity ratio of 0.64.
Several equities analysts have issued reports on the stock. ValuEngine cut shares of EnerSys from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Sidoti cut shares of EnerSys from a “buy” rating to a “neutral” rating and set a $79.00 target price on the stock. in a research note on Tuesday, January 23rd. CL King upgraded shares of EnerSys from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of EnerSys from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Oppenheimer reiterated a “buy” rating and issued a $77.00 price objective on shares of EnerSys in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $78.00.
In other news, insider Todd M. Sechrist sold 7,500 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $66.50, for a total value of $498,750.00. Following the transaction, the insider now owns 61,182 shares in the company, valued at approximately $4,068,603. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.
EnerSys declared that its board has initiated a stock buyback plan on Wednesday, November 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
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EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.
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