Hewlett Packard Enterprise (NYSE:HPE) Shares Gap Up to $17.23

Hewlett Packard Enterprise (NYSE:HPE)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $17.23, but opened at $17.97. Hewlett Packard Enterprise shares last traded at $17.92, with a volume of 4,468,367 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Evercore ISI upped their target price on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 5th. Argus raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Friday, June 7th. Loop Capital upped their price target on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a “hold” rating in a report on Monday, September 9th. Bank of America raised shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $24.00 in a research note on Tuesday. Finally, UBS Group increased their target price on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Hewlett Packard Enterprise currently has an average rating of “Hold” and an average target price of $21.08.

Hewlett Packard Enterprise Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. The business’s 50 day moving average is $18.78 and its 200 day moving average is $18.60.

Hewlett Packard Enterprise (NYSE:HPE) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. Hewlett Packard Enterprise’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 earnings per share. Equities analysts expect that Hewlett Packard Enterprise will post 1.66 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, September 19th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, September 19th. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is 37.96%.

Insider Buying and Selling

In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 29,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $17.00, for a total value of $493,000.00. Following the transaction, the executive vice president now owns 82,061 shares in the company, valued at approximately $1,395,037. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hewlett Packard Enterprise

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Hewlett Packard Enterprise by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 161,853,093 shares of the technology company’s stock worth $2,869,655,000 after purchasing an additional 5,777,901 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Hewlett Packard Enterprise by 14,953.2% in the 2nd quarter. Pacer Advisors Inc. now owns 23,189,645 shares of the technology company’s stock valued at $490,925,000 after buying an additional 23,035,594 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Hewlett Packard Enterprise by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 18,871,236 shares of the technology company’s stock worth $399,507,000 after buying an additional 822,722 shares during the last quarter. Legal & General Group Plc raised its position in Hewlett Packard Enterprise by 3.8% during the second quarter. Legal & General Group Plc now owns 16,939,160 shares of the technology company’s stock valued at $358,602,000 after acquiring an additional 617,691 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Hewlett Packard Enterprise by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 9,483,975 shares of the technology company’s stock valued at $200,776,000 after acquiring an additional 237,321 shares during the last quarter. 80.78% of the stock is owned by institutional investors and hedge funds.

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.