Hewlett Packard Enterprise (NYSE:HPE) Shares Gap Up - Here's What Happened

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $19.87, but opened at $20.95. Hewlett Packard Enterprise shares last traded at $20.25, with a volume of 2,020,767 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on HPE. Susquehanna reaffirmed a "neutral" rating and set a $20.00 target price on shares of Hewlett Packard Enterprise in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Hewlett Packard Enterprise in a research report on Wednesday, October 9th. They set a "hold" rating and a $22.00 price target on the stock. Loop Capital increased 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. Citigroup initiated coverage on Hewlett Packard Enterprise in a research note on Monday, September 23rd. They set a "neutral" rating and a $20.00 target price for the company. Finally, UBS Group upped their price target on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, September 5th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $21.46.

Hewlett Packard Enterprise Price Performance

The company has a market capitalization of $26.45 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.94 and a quick ratio of 0.62. The stock's 50 day simple moving average is $19.31 and its 200-day simple moving average is $19.10.

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

Hewlett Packard Enterprise Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 19th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, September 19th. Hewlett Packard Enterprise's dividend payout ratio (DPR) is presently 37.96%.

Insider Activity

In other news, SVP Jeremy Cox sold 7,770 shares of the business's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $21.00, for a total transaction of $163,170.00. Following the completion of the sale, the senior vice president now owns 7,771 shares in the company, valued at approximately $163,191. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Antonio F. Neri sold 250,000 shares of the company's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $20.73, for a total value of $5,182,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,508,641 shares of the company's stock, valued at $31,274,127.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeremy Cox sold 7,770 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $21.00, for a total value of $163,170.00. Following the transaction, the senior vice president now owns 7,771 shares in the company, valued at $163,191. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 426,012 shares of company stock worth $8,599,617. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Large investors have recently modified their holdings of the company. Capital Investment Counsel Inc raised its position in Hewlett Packard Enterprise by 1.2% in the 2nd quarter. Capital Investment Counsel Inc now owns 41,269 shares of the technology company's stock valued at $874,000 after purchasing an additional 500 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Hewlett Packard Enterprise by 4.8% in the second quarter. First Horizon Advisors Inc. now owns 10,933 shares of the technology company's stock valued at $231,000 after buying an additional 501 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Hewlett Packard Enterprise by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 111,617 shares of the technology company's stock worth $2,363,000 after buying an additional 536 shares during the period. Bailard Inc. grew its holdings in shares of Hewlett Packard Enterprise by 1.7% during the second quarter. Bailard Inc. now owns 35,349 shares of the technology company's stock worth $748,000 after buying an additional 580 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management increased its position in Hewlett Packard Enterprise by 2.5% in the 3rd quarter. Werba Rubin Papier Wealth Management now owns 23,583 shares of the technology company's stock valued at $483,000 after acquiring an additional 581 shares during the period. 80.78% of the stock is owned by institutional investors and hedge funds.

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.