Hewlett Packard Enterprise (NYSE:HPE) Given New $24.00 Price Target at Bank of America

Hewlett Packard Enterprise (NYSE:HPE) had its price target increased by Bank of America from $22.00 to $24.00 in a report published on Friday, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of Hewlett Packard Enterprise from a hold rating to a buy rating in a research note on Wednesday, June 5th. Barclays increased their price target on Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company an equal weight rating in a research note on Wednesday, June 5th. Argus raised Hewlett Packard Enterprise from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research note on Friday, June 7th. Susquehanna upped their target price on Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company a neutral rating in a report on Wednesday, June 5th. Finally, Wells Fargo & Company raised their price target on shares of Hewlett Packard Enterprise from $19.00 to $22.00 and gave the stock an equal weight rating in a report on Wednesday, June 5th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Hewlett Packard Enterprise has a consensus rating of Hold and an average target price of $20.85.

Hewlett Packard Enterprise Price Performance

Hewlett Packard Enterprise stock opened at $20.92 on Friday. The stock has a 50-day moving average price of $18.35 and a two-hundred day moving average price of $17.16. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82. The company has a market capitalization of $27.19 billion, a PE ratio of 15.27, a P/E/G ratio of 3.15 and a beta of 1.18. The company has a current ratio of 0.90, a quick ratio of 0.59 and a debt-to-equity ratio of 0.34.

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

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, June 19th will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.49%. Hewlett Packard Enterprise’s dividend payout ratio is currently 37.96%.

Insider Activity at Hewlett Packard Enterprise

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

Institutional Trading of Hewlett Packard Enterprise

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPE. EverSource Wealth Advisors LLC boosted its position in shares of Hewlett Packard Enterprise by 10.1% during the first quarter. EverSource Wealth Advisors LLC now owns 6,806 shares of the technology company’s stock valued at $116,000 after buying an additional 626 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Hewlett Packard Enterprise by 7.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 9,391 shares of the technology company’s stock worth $159,000 after acquiring an additional 666 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Hewlett Packard Enterprise by 3.0% in the fourth quarter. Verdence Capital Advisors LLC now owns 23,822 shares of the technology company’s stock valued at $405,000 after purchasing an additional 693 shares during the last quarter. Montgomery Investment Management Inc. lifted its position in shares of Hewlett Packard Enterprise by 2.9% during the fourth quarter. Montgomery Investment Management Inc. now owns 24,950 shares of the technology company’s stock valued at $424,000 after purchasing an additional 700 shares in the last quarter. Finally, IMPACTfolio LLC boosted its holdings in Hewlett Packard Enterprise by 5.3% during the fourth quarter. IMPACTfolio LLC now owns 13,963 shares of the technology company’s stock worth $237,000 after purchasing an additional 705 shares during the last quarter. 80.78% of the stock is owned by institutional investors.

Hewlett Packard Enterprise Company Profile

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.