Bank of America Cuts Hewlett Packard Enterprise (NYSE:HPE) Price Target to $20.00

Hewlett Packard Enterprise (NYSE:HPE) had its target price trimmed by Bank of America from $26.00 to $20.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other equities analysts have also commented on the company. StockNews.com lowered Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Barclays lowered their target price on Hewlett Packard Enterprise from $27.00 to $20.00 and set an “overweight” rating for the company in a report on Friday. Citigroup raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and upped their target price for the company from $23.00 to $26.00 in a report on Friday, December 6th. Loop Capital upped their target price on Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus upped their target price on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.21.

Hewlett Packard Enterprise Stock Down 11.9 %

NYSE:HPE opened at $15.82 on Friday. The firm has a market capitalization of $20.77 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The stock has a 50 day moving average of $21.47 and a 200-day moving average of $20.73. Hewlett Packard Enterprise has a 52 week low of $14.93 and a 52 week high of $24.66. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Hewlett Packard Enterprise Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, March 21st. Hewlett Packard Enterprise’s payout ratio is currently 25.37%.

Insider Buying and Selling at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, SVP Jeremy Cox sold 11,577 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $23.00, for a total transaction of $266,271.00. Following the completion of the transaction, the senior vice president now directly owns 48,615 shares of the company’s stock, valued at approximately $1,118,145. This trade represents a 19.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John F. Schultz sold 262,818 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $21.62, for a total value of $5,682,125.16. Following the sale, the executive vice president now owns 270,430 shares of the company’s stock, valued at $5,846,696.60. This trade represents a 49.29 % decrease in their position. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Institutional investors and hedge funds have recently modified their holdings of the stock. Putney Financial Group LLC acquired a new stake in shares of Hewlett Packard Enterprise during the 4th quarter valued at $25,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Hewlett Packard Enterprise during the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Hewlett Packard Enterprise during the 3rd quarter valued at $26,000. Hara Capital LLC acquired a new stake in shares of Hewlett Packard Enterprise during the 4th quarter valued at $28,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Hewlett Packard Enterprise during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 80.78% of the company’s stock.

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.