Hewlett Packard Enterprise (NYSE:HPE) Shares Gap Up on Analyst Upgrade

Hewlett Packard Enterprise (NYSE:HPE) gapped up prior to trading on Tuesday after Morgan Stanley raised their price target on the stock from $14.00 to $22.00. The stock had previously closed at $17.46, but opened at $18.02. Morgan Stanley currently has an equal weight rating on the stock. Hewlett Packard Enterprise shares last traded at $17.81, with a volume of 1,186,771 shares traded.

HPE has been the subject of a number of other research reports. Susquehanna cut their price target on Hewlett Packard Enterprise from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Daiwa Capital Markets downgraded shares of Hewlett Packard Enterprise from an “outperform” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Wednesday, March 12th. Bank of America cut their price target on Hewlett Packard Enterprise from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Daiwa America downgraded Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their price target on shares of Hewlett Packard Enterprise from $22.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.13.

Insider Buying and Selling at Hewlett Packard Enterprise

In related news, Director Bethany Mayer sold 6,409 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $13.19, for a total transaction of $84,534.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Putney Financial Group LLC acquired a new stake in shares of Hewlett Packard Enterprise in the fourth quarter worth $25,000. Alpine Bank Wealth Management acquired a new position in shares of Hewlett Packard Enterprise during the 1st quarter worth about $25,000. Bruce G. Allen Investments LLC increased its position in Hewlett Packard Enterprise by 345.0% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,700 shares of the technology company’s stock worth $26,000 after buying an additional 1,318 shares during the period. Zions Bancorporation National Association UT bought a new position in Hewlett Packard Enterprise during the first quarter valued at about $27,000. Finally, Hara Capital LLC bought a new stake in shares of Hewlett Packard Enterprise during the fourth quarter valued at approximately $28,000. 80.78% of the stock is currently owned by institutional investors.

Hewlett Packard Enterprise Trading Up 2.4%

The firm has a market capitalization of $23.49 billion, a P/E ratio of 9.40, a PEG ratio of 2.03 and a beta of 1.29. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $15.71 and a 200-day moving average price of $19.36.

Hewlett Packard Enterprise Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, March 21st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.91%. The ex-dividend date was Friday, March 21st. Hewlett Packard Enterprise’s payout ratio is 25.37%.

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.