Patten & Patten Inc. TN Grows Stake in Hewlett Packard Enterprise (NYSE:HPE)

Patten & Patten Inc. TN raised its stake in Hewlett Packard Enterprise (NYSE:HPEFree Report) by 18.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,173 shares of the technology company’s stock after acquiring an additional 2,500 shares during the quarter. Patten & Patten Inc. TN’s holdings in Hewlett Packard Enterprise were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State of Michigan Retirement System boosted its stake in Hewlett Packard Enterprise by 2.0% in the fourth quarter. State of Michigan Retirement System now owns 490,581 shares of the technology company’s stock valued at $8,330,000 after acquiring an additional 9,800 shares during the last quarter. Drive Wealth Management LLC purchased a new stake in shares of Hewlett Packard Enterprise during the 4th quarter valued at approximately $175,000. True Link Financial Advisors LLC purchased a new stake in shares of Hewlett Packard Enterprise during the 4th quarter valued at approximately $228,000. Caprock Group LLC lifted its stake in shares of Hewlett Packard Enterprise by 2.8% during the 4th quarter. Caprock Group LLC now owns 30,156 shares of the technology company’s stock valued at $516,000 after buying an additional 832 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Hewlett Packard Enterprise by 20.2% during the 4th quarter. Blue Trust Inc. now owns 10,379 shares of the technology company’s stock valued at $181,000 after buying an additional 1,747 shares in the last quarter. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Stock Performance

Hewlett Packard Enterprise stock opened at $18.19 on Thursday. The firm’s fifty day moving average price is $16.33 and its 200-day moving average price is $16.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.63 and a current ratio of 0.89. The stock has a market cap of $23.65 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 3.32 and a beta of 1.21. Hewlett Packard Enterprise has a fifty-two week low of $13.65 and a fifty-two week high of $20.07.

Hewlett Packard Enterprise (NYSE:HPEGet Free Report) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Hewlett Packard Enterprise had a net margin of 6.81% and a return on equity of 9.12%. The business’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. On average, equities research analysts expect that Hewlett Packard Enterprise will post 1.4 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 15th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, March 14th. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 35.86%.

Analyst Ratings Changes

A number of analysts recently commented on HPE shares. StockNews.com upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a research note on Wednesday. Sanford C. Bernstein cut shares of Hewlett Packard Enterprise from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $20.00 to $17.00 in a research note on Tuesday, January 16th. Wells Fargo & Company restated an “equal weight” rating and set a $17.00 price target (down from $21.00) on shares of Hewlett Packard Enterprise in a research note on Friday, March 1st. Barclays dropped their price target on shares of Hewlett Packard Enterprise from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Finally, Evercore ISI lowered their target price on shares of Hewlett Packard Enterprise from $19.00 to $18.00 and set an “in-line” rating on the stock in a research note on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Hewlett Packard Enterprise currently has a consensus rating of “Hold” and a consensus price target of $17.45.

Read Our Latest Report on HPE

About Hewlett Packard Enterprise

(Free Report)

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.

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Institutional Ownership by Quarter for Hewlett Packard Enterprise (NYSE:HPE)

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