Seven Eight Capital LP Acquires Shares of 164,952 Hewlett Packard Enterprise (NYSE:HPE)

Seven Eight Capital LP acquired a new position in Hewlett Packard Enterprise (NYSE:HPE) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 164,952 shares of the technology company’s stock, valued at approximately $3,492,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Hewlett Packard Enterprise by 3.7% in the first quarter. Vanguard Group Inc. now owns 161,853,093 shares of the technology company’s stock valued at $2,869,655,000 after acquiring an additional 5,777,901 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Hewlett Packard Enterprise by 336.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 4,269,603 shares of the technology company’s stock worth $90,387,000 after purchasing an additional 3,291,880 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in Hewlett Packard Enterprise in the 4th quarter worth about $51,384,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Hewlett Packard Enterprise during the first quarter valued at approximately $51,938,000. Finally, Norges Bank bought a new position in Hewlett Packard Enterprise during the fourth quarter valued at approximately $48,291,000. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Price Performance

NYSE HPE opened at $18.21 on Wednesday. The stock has a market cap of $23.67 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.97 and a beta of 1.19. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82. The company’s 50 day moving average is $18.85 and its two-hundred day moving average is $18.61. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36.

Hewlett Packard Enterprise (NYSE:HPE) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. As a group, research analysts anticipate that Hewlett Packard Enterprise will post 1.66 earnings per share for the current year.

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.52 annualized dividend and a dividend yield of 2.86%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 37.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Evercore ISI boosted their price target on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, June 5th. Loop Capital upped their price objective on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Finally, Sanford C. Bernstein increased their price objective on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hewlett Packard Enterprise currently has a consensus rating of “Hold” and a consensus price target of $21.08.

Insider Buying and Selling

In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 29,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total value of $493,000.00. Following the completion of the transaction, the executive vice president now owns 82,061 shares in the company, valued at $1,395,037. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.40% 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.