Hewlett Packard Enterprise (NYSE:HPE) PT Raised to $24.00 at Bank of America

Hewlett Packard Enterprise (NYSE:HPE) had its price objective increased by Bank of America from $22.00 to $24.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

HPE has been the topic of a number of other research reports. Barclays upped their target price on Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company an equal weight rating in a research report on Wednesday, June 5th. StockNews.com upgraded Hewlett Packard Enterprise from a hold rating to a buy rating in a research report on Wednesday, June 5th. UBS Group upped their target price on Hewlett Packard Enterprise from $16.00 to $17.00 and gave the company a neutral rating in a research report on Wednesday, June 5th. Wells Fargo & Company upped their target price on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an equal weight rating in a research report on Wednesday, June 5th. Finally, Argus upgraded Hewlett Packard Enterprise from a hold rating to a buy rating and set a $26.00 target price on the stock in a research report on Friday, June 7th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $20.85.

Hewlett Packard Enterprise Price Performance

Shares of HPE stock opened at $20.47 on Friday. Hewlett Packard Enterprise has a fifty-two week low of $14.47 and a fifty-two week high of $22.82. The firm has a market capitalization of $26.60 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.09 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.59 and a current ratio of 0.90. The stock’s 50-day simple moving average is $18.41 and its 200-day simple moving average is $17.20.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Hewlett Packard Enterprise had a return on equity of 8.49% and a net margin of 6.38%. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that Hewlett Packard Enterprise will post 1.59 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, June 19th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Tuesday, June 18th. Hewlett Packard Enterprise’s payout ratio is 37.96%.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 18,323 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $16.96, for a total transaction of $310,758.08. Following the completion of the transaction, the senior vice president now directly owns 15,541 shares of the company’s stock, valued at approximately $263,575.36. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Jeremy Cox sold 18,323 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $16.96, for a total transaction of $310,758.08. Following the completion of the transaction, the senior vice president now directly owns 15,541 shares of the company’s stock, valued at approximately $263,575.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gerri Gold sold 22,784 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $21.67, for a total value of $493,729.28. Following the transaction, the chief executive officer now directly owns 57,081 shares of the company’s stock, valued at $1,236,945.27. The disclosure for this sale can be found here. Insiders sold a total of 158,464 shares of company stock valued at $3,160,866 in the last three months. 0.40% of the stock is currently owned by company insiders.

Institutional Trading of Hewlett Packard Enterprise

Large investors have recently made changes to their positions in the company. Rise Advisors LLC increased its position in shares of Hewlett Packard Enterprise by 253.9% during the first quarter. Rise Advisors LLC now owns 1,465 shares of the technology company’s stock worth $26,000 after purchasing an additional 1,051 shares in the last quarter. American National Bank increased its position in shares of Hewlett Packard Enterprise by 89.4% during the first quarter. American National Bank now owns 1,949 shares of the technology company’s stock worth $35,000 after purchasing an additional 920 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of Hewlett Packard Enterprise by 180.1% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,961 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,261 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth approximately $35,000. Finally, Founders Financial Alliance LLC increased its position in shares of Hewlett Packard Enterprise by 52.8% during the fourth quarter. Founders Financial Alliance LLC now owns 2,463 shares of the technology company’s stock worth $42,000 after purchasing an additional 851 shares in the last quarter. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.