Bank of America Trims Hewlett Packard Enterprise (NYSE:HPE) Target Price to $21.00

Hewlett Packard Enterprise (NYSE:HPE) had its target price decreased by Bank of America from $24.00 to $21.00 in a report issued on Thursday morning, Benzinga reports. Bank of America currently has a neutral rating on the technology company’s stock.

A number of other research analysts have also commented on HPE. Morgan Stanley reiterated an equal weight rating and issued a $21.00 price objective on shares of Hewlett Packard Enterprise in a research report on Thursday, June 20th. Argus upgraded Hewlett Packard Enterprise from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Friday, June 7th. Sanford C. Bernstein increased their price objective on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a market perform rating in a research report on Wednesday, June 5th. Wells Fargo & Company increased their price objective on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an equal weight rating in a research report on Wednesday, June 5th. Finally, Stifel Nicolaus raised their price target on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the stock a buy rating in a research report on Wednesday, June 5th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Hewlett Packard Enterprise has a consensus rating of Hold and an average target price of $21.09.

Hewlett Packard Enterprise Trading Down 0.6 %

HPE stock opened at $17.53 on Thursday. The business has a fifty day moving average price of $19.38 and a 200 day moving average price of $18.48. Hewlett Packard Enterprise has a fifty-two week low of $14.47 and a fifty-two week high of $22.82. The stock has a market capitalization of $22.78 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 2.80 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.59.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.49% and a net margin of 6.38%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Analysts expect that Hewlett Packard Enterprise will post 1.59 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, September 19th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.52 dividend on an annualized basis and a yield of 2.97%. Hewlett Packard Enterprise’s payout ratio is 37.96%.

Insider Buying and Selling at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, CEO Gerri Gold sold 22,784 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $21.67, for a total value of $493,729.28. Following the completion of the transaction, the chief executive officer now directly owns 57,081 shares of the company’s stock, valued at $1,236,945.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hewlett Packard Enterprise news, CEO Gerri Gold sold 22,784 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $21.67, for a total value of $493,729.28. Following the completion of the transaction, the chief executive officer now directly owns 57,081 shares of the company’s stock, valued at $1,236,945.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kirt P. Karros sold 30,686 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $20.49, for a total value of $628,756.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,141 shares of company stock valued at $1,874,608. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Hewlett Packard Enterprise

A number of institutional investors have recently modified their holdings of HPE. Rise Advisors LLC lifted its holdings in shares of 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 purchasing an additional 1,051 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Hewlett Packard Enterprise by 571.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,143 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Hewlett Packard Enterprise in the second quarter valued at about $28,000. Johnson Financial Group Inc. bought a new stake in shares of Hewlett Packard Enterprise in the fourth quarter valued at about $35,000. Finally, American National Bank lifted its holdings in shares of 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 purchasing an additional 920 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors.

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.