Hewlett Packard Enterprise (NYSE:HPE) Given New $22.00 Price Target at Bank of America

Hewlett Packard Enterprise (NYSE:HPEFree Report) had its price objective increased by Bank of America from $19.00 to $22.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on HPE. Evercore ISI decreased their price objective on Hewlett Packard Enterprise from $19.00 to $18.00 and set an in-line rating on the stock in a report on Friday, March 1st. Stifel Nicolaus reduced their target price on Hewlett Packard Enterprise from $20.00 to $18.00 and set a buy rating on the stock in a report on Friday, March 1st. Morgan Stanley lifted their target price on Hewlett Packard Enterprise from $16.00 to $19.00 and gave the company an equal weight rating in a report on Monday, April 15th. StockNews.com cut Hewlett Packard Enterprise from a buy rating to a hold rating in a report on Saturday, April 27th. Finally, Wells Fargo & Company lifted their target price on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an equal weight rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $20.25.

Get Our Latest Research Report on HPE

Hewlett Packard Enterprise Stock Performance

NYSE HPE opened at $19.49 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.89 and a quick ratio of 0.63. The business has a 50 day moving average price of $17.59 and a 200 day moving average price of $16.75. The company has a market capitalization of $25.33 billion, a P/E ratio of 13.44, a PEG ratio of 3.32 and a beta of 1.18. Hewlett Packard Enterprise has a 1-year low of $14.47 and a 1-year high of $20.43.

Hewlett Packard Enterprise (NYSE:HPEGet Free Report) last released its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.82 billion. Hewlett Packard Enterprise had a return on equity of 9.12% and a net margin of 6.81%. Hewlett Packard Enterprise’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. Sell-side analysts expect that Hewlett Packard Enterprise will post 1.4 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, June 19th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, June 18th. Hewlett Packard Enterprise’s payout ratio is 35.86%.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 18,323 shares of Hewlett Packard Enterprise stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $16.96, for a total transaction of $310,758.08. Following the sale, the senior vice president now directly owns 15,541 shares of the company’s stock, valued at $263,575.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 modified their holdings of HPE. Rise Advisors LLC increased its holdings in Hewlett Packard Enterprise by 253.9% in the first quarter. Rise Advisors LLC now owns 1,465 shares of the technology company’s stock valued at $26,000 after buying an additional 1,051 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE bought a new stake in Hewlett Packard Enterprise in the third quarter valued at about $33,000. American National Bank increased its holdings in Hewlett Packard Enterprise by 89.4% in the first quarter. American National Bank now owns 1,949 shares of the technology company’s stock valued at $35,000 after buying an additional 920 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in Hewlett Packard Enterprise by 180.1% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,961 shares of the technology company’s stock valued at $33,000 after buying an additional 1,261 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Hewlett Packard Enterprise in the fourth quarter valued at about $35,000. 80.78% of the stock is owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Company Profile

(Get 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.

Read More

Analyst Recommendations for Hewlett Packard Enterprise (NYSE:HPE)

Receive News & Ratings for Hewlett Packard Enterprise Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hewlett Packard Enterprise and related companies with MarketBeat.com's FREE daily email newsletter.