Hewlett Packard Enterprise (NYSE:HPE) Price Target Raised to $24.00

Hewlett Packard Enterprise (NYSE:HPE) had its price objective upped by Barclays from $20.00 to $24.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other equities research analysts have also commented on HPE. Wall Street Zen lowered shares of Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Loop Capital reduced their target price on shares of Hewlett Packard Enterprise from $24.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Susquehanna reduced their target price on shares of Hewlett Packard Enterprise from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Evercore ISI upgraded shares of Hewlett Packard Enterprise from an “in-line” rating to an “outperform” rating and upped their target price for the company from $17.00 to $22.00 in a report on Tuesday, May 20th. Finally, Morgan Stanley upped their target price on shares of Hewlett Packard Enterprise from $14.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Hewlett Packard Enterprise Stock Performance

NYSE:HPE opened at $18.12 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. Hewlett Packard Enterprise has a fifty-two week low of $11.97 and a fifty-two week high of $24.66. The stock has a market cap of $23.80 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 2.03 and a beta of 1.29. The firm’s fifty day simple moving average is $16.18 and its 200-day simple moving average is $19.03.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Hewlett Packard Enterprise had a net margin of 8.56% and a return on equity of 8.94%. The business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.51 billion. During the same period in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts expect that Hewlett Packard Enterprise will post 1.85 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, June 18th. Hewlett Packard Enterprise’s dividend payout ratio is currently 25.37%.

Insider Activity

In other news, Director Bethany Mayer sold 6,409 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.

Institutional Trading of Hewlett Packard Enterprise

Institutional investors and hedge funds have recently bought and sold shares of the business. Korea Investment CORP increased its position in Hewlett Packard Enterprise by 8.3% during the 4th quarter. Korea Investment CORP now owns 1,003,921 shares of the technology company’s stock worth $21,434,000 after purchasing an additional 77,244 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $3,598,000. Atria Investments Inc increased its position in Hewlett Packard Enterprise by 24.3% during the 4th quarter. Atria Investments Inc now owns 24,843 shares of the technology company’s stock worth $530,000 after purchasing an additional 4,864 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $374,000. Finally, Allworth Financial LP increased its position in Hewlett Packard Enterprise by 18.1% during the 4th quarter. Allworth Financial LP now owns 43,620 shares of the technology company’s stock worth $931,000 after purchasing an additional 6,680 shares in the last quarter. Institutional investors and hedge funds own 80.78% 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.