Bank of America Increases Hewlett Packard Enterprise (NYSE:HPE) Price Target to $24.00

Hewlett Packard Enterprise (NYSE:HPE - Free Report) had its price objective lifted by Bank of America from $22.00 to $24.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the technology company's stock.

Several other equities analysts have also commented on HPE. Morgan Stanley reiterated an equal weight rating and issued a $21.00 target price on shares of Hewlett Packard Enterprise in a research note on Thursday. Susquehanna upped their target price on Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company a neutral rating in a research note on Wednesday, June 5th. StockNews.com upgraded Hewlett Packard Enterprise from a hold rating to a buy rating in a research note on Wednesday, June 5th. Stifel Nicolaus upped their price target on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the stock a buy rating in a research note on Wednesday, June 5th. Finally, Wells Fargo & Company upped their price target on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the stock an equal weight rating in a research note on Wednesday, June 5th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $20.85.

Hewlett Packard Enterprise Price Performance

Shares of NYSE:HPE traded down $0.56 on Friday, hitting $20.92. The company had a trading volume of 59,585,900 shares, compared to its average volume of 16,372,326. The company has a current ratio of 0.90, a quick ratio of 0.59 and a debt-to-equity ratio of 0.34. Hewlett Packard Enterprise has a 52-week low of $14.47 and a 52-week high of $22.82. The business has a 50 day moving average of $18.35 and a 200 day moving average of $17.16. The company has a market cap of $27.19 billion, a PE ratio of 15.27, a PEG ratio of 3.15 and a beta of 1.18.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last released its earnings results on Tuesday, June 4th. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.82 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 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. As a group, equities analysts anticipate that Hewlett Packard Enterprise will post 1.59 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, June 19th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.49%. Hewlett Packard Enterprise's dividend payout ratio (DPR) is currently 37.96%.

Insider Activity at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, SVP Jeremy Cox sold 18,323 shares of the firm's stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $16.96, for a total transaction of $310,758.08. Following the completion of the sale, the senior vice president now owns 15,541 shares in the company, valued at approximately $263,575.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Gerri Gold sold 22,784 shares of Hewlett Packard Enterprise stock in a transaction that occurred on 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 owns 57,081 shares in the company, valued at approximately $1,236,945.27. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jeremy Cox sold 18,323 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $16.96, for a total value of $310,758.08. Following the completion of the transaction, the senior vice president now owns 15,541 shares of the company's stock, valued at approximately $263,575.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,464 shares of company stock valued at $3,160,866. Insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPE. Rise Advisors LLC boosted its position in Hewlett Packard Enterprise by 253.9% during the 1st 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 during the period. Salem Investment Counselors Inc. boosted its position in Hewlett Packard Enterprise by 180.1% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,961 shares of the technology company's stock valued at $33,000 after purchasing an additional 1,261 shares during the period. Johnson Financial Group Inc. acquired a new position in Hewlett Packard Enterprise during the 4th quarter valued at approximately $35,000. American National Bank boosted its position in Hewlett Packard Enterprise by 89.4% during the 1st 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 during the period. Finally, Founders Financial Alliance LLC boosted its position in Hewlett Packard Enterprise by 52.8% during the 4th quarter. Founders Financial Alliance LLC now owns 2,463 shares of the technology company's stock valued at $42,000 after purchasing an additional 851 shares during the period. Institutional investors and hedge funds own 80.78% of the company's stock.

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.