Wells Fargo & Company Issues Positive Forecast for Hewlett Packard Enterprise (NYSE:HPE) Stock Price

Hewlett Packard Enterprise (NYSE:HPE) had its price objective upped by Wells Fargo & Company from $20.00 to $22.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other research firms have also issued reports on HPE. KeyCorp started coverage on shares of Hewlett Packard Enterprise in a report on Thursday, June 26th. They set a “sector weight” rating on the stock. Daiwa America lowered shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 12th. Bank of America increased their target price on shares of Hewlett Packard Enterprise from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley boosted their price target on shares of Hewlett Packard Enterprise from $14.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. Finally, Loop Capital boosted their price target on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.85.

Hewlett Packard Enterprise Price Performance

Hewlett Packard Enterprise stock opened at $21.32 on Thursday. The firm has a market cap of $27.97 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 3.07 and a beta of 1.35. Hewlett Packard Enterprise has a 52-week low of $11.97 and a 52-week high of $24.66. The company has a quick ratio of 0.96, a current ratio of 1.29 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $17.81 and its two-hundred day moving average is $18.62.

Hewlett Packard Enterprise (NYSE:HPE) last released its earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.51 billion. Hewlett Packard Enterprise had a net margin of 4.60% and a return on equity of 9.59%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, research analysts expect that Hewlett Packard Enterprise will post 1.85 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Wednesday, June 18th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, June 18th. Hewlett Packard Enterprise’s payout ratio is 52.53%.

Insider Buying and Selling at Hewlett Packard Enterprise

In other news, EVP Phil Mottram sold 30,000 shares of the company’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $20.54, for a total value of $616,200.00. Following the completion of the transaction, the executive vice president owned 42,427 shares in the company, valued at approximately $871,450.58. This represents a 41.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jeremy Cox sold 68,590 shares of the company’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $18.44, for a total transaction of $1,264,799.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,590 shares of company stock valued at $2,436,000. Company insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HPE. US Bancorp DE boosted its holdings in shares of Hewlett Packard Enterprise by 2.2% in the 4th quarter. US Bancorp DE now owns 192,222 shares of the technology company’s stock valued at $4,104,000 after buying an additional 4,140 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Hewlett Packard Enterprise by 27.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 5,390 shares of the technology company’s stock worth $115,000 after purchasing an additional 1,165 shares during the period. Jones Financial Companies Lllp boosted its stake in Hewlett Packard Enterprise by 115.5% during the 4th quarter. Jones Financial Companies Lllp now owns 11,053 shares of the technology company’s stock worth $236,000 after purchasing an additional 5,924 shares during the period. Schechter Investment Advisors LLC boosted its stake in Hewlett Packard Enterprise by 14.0% during the 4th quarter. Schechter Investment Advisors LLC now owns 15,889 shares of the technology company’s stock worth $339,000 after purchasing an additional 1,956 shares during the period. Finally, State of Michigan Retirement System boosted its stake in Hewlett Packard Enterprise by 0.4% during the 4th quarter. State of Michigan Retirement System now owns 505,181 shares of the technology company’s stock worth $10,786,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 80.78% of the company’s stock.

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.