Wells Fargo & Company Issues Pessimistic Forecast for Hewlett Packard Enterprise (NYSE:HPE) Stock Price

Hewlett Packard Enterprise (NYSE:HPE - Free Report) had its target price lowered by Wells Fargo & Company from $22.00 to $17.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the technology company's stock.

A number of other brokerages also recently issued reports on HPE. Citigroup upgraded shares of Hewlett Packard Enterprise from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $23.00 to $26.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Hewlett Packard Enterprise from a "hold" rating to a "buy" rating and set a $25.00 price objective on the stock in a research note on Thursday, December 19th. Raymond James upgraded shares of Hewlett Packard Enterprise from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $23.00 to $29.00 in a research note on Monday, November 18th. Morgan Stanley raised Hewlett Packard Enterprise from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $23.00 to $28.00 in a research note on Thursday, December 5th. Finally, Barclays reduced their price objective on Hewlett Packard Enterprise from $27.00 to $20.00 and set an "overweight" rating on the stock in a research note on Friday. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.21.

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Hewlett Packard Enterprise Stock Performance

Shares of NYSE:HPE traded down $2.15 on Friday, reaching $15.82. 81,923,511 shares of the company's stock were exchanged, compared to its average volume of 14,855,802. The company has a fifty day moving average of $21.47 and a 200-day moving average of $20.72. Hewlett Packard Enterprise has a twelve month low of $14.93 and a twelve month high of $24.66. The company has a market capitalization of $20.77 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 2.03 and a beta of 1.20. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Hewlett Packard Enterprise Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.29%. Hewlett Packard Enterprise's dividend payout ratio (DPR) is presently 25.37%.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 11,577 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $23.00, for a total value of $266,271.00. Following the transaction, the senior vice president now owns 48,615 shares in the company, valued at approximately $1,118,145. The trade was a 19.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary M. Reiner sold 50,000 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.47, for a total value of $1,173,500.00. Following the completion of the transaction, the director now directly owns 104,192 shares in the company, valued at approximately $2,445,386.24. This trade represents a 32.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 324,395 shares of company stock worth $7,121,896. Company insiders own 0.36% of the company's stock.

Hedge Funds Weigh In On Hewlett Packard Enterprise

Several institutional investors have recently added to or reduced their stakes in HPE. Stephens Inc. AR lifted its stake in Hewlett Packard Enterprise by 12.3% in the third quarter. Stephens Inc. AR now owns 17,998 shares of the technology company's stock valued at $368,000 after buying an additional 1,972 shares during the period. Maia Wealth LLC acquired a new position in Hewlett Packard Enterprise in the third quarter valued at approximately $123,000. Concurrent Investment Advisors LLC boosted its holdings in Hewlett Packard Enterprise by 148.1% in the third quarter. Concurrent Investment Advisors LLC now owns 76,745 shares of the technology company's stock worth $1,570,000 after acquiring an additional 45,807 shares in the last quarter. Graypoint LLC boosted its holdings in Hewlett Packard Enterprise by 18.0% in the third quarter. Graypoint LLC now owns 35,359 shares of the technology company's stock worth $723,000 after acquiring an additional 5,406 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Hewlett Packard Enterprise by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,561,022 shares of the technology company's stock valued at $31,939,000 after acquiring an additional 68,892 shares during the period. 80.78% of the stock is owned by institutional investors and hedge funds.

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.