Hewlett Packard Enterprise (NYSE:HPE) Stock Price Expected to Rise, Bank of America Analyst Says

Hewlett Packard Enterprise (NYSE:HPE - Free Report) had its target price hoisted by Bank of America from $20.00 to $23.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company's stock.

HPE has been the topic of several other research reports. Raymond James Financial lifted their price target on shares of Hewlett Packard Enterprise from $23.00 to $26.00 and gave the company a "strong-buy" rating in a report on Wednesday, June 4th. Susquehanna reduced their price target on shares of Hewlett Packard Enterprise from $20.00 to $15.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Wall Street Zen downgraded shares of Hewlett Packard Enterprise from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Daiwa Capital Markets cut Hewlett Packard Enterprise from an "outperform" rating to a "neutral" rating and set a $16.00 price objective on the stock. in a research report on Wednesday, March 12th. Finally, UBS Group increased their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.54.

Hewlett Packard Enterprise Trading Up 3.9%

Shares of HPE stock traded up $0.79 on Monday, hitting $21.27. 29,646,107 shares of the company's stock traded hands, compared to its average volume of 16,774,536. The stock has a market capitalization of $27.91 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.96 and a beta of 1.35. The company's fifty day simple moving average is $17.59 and its 200 day simple moving average is $18.61. Hewlett Packard Enterprise has a one year low of $11.97 and a one year high of $24.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.29.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last posted its 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. The company had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.51 billion. Hewlett Packard Enterprise had a net margin of 4.60% and a return on equity of 9.59%. Hewlett Packard Enterprise's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Equities analysts forecast that Hewlett Packard Enterprise will post 1.85 EPS for the current year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.44%. Hewlett Packard Enterprise's payout ratio is presently 52.53%.

Insider Buying and Selling

In other Hewlett Packard Enterprise news, Director Bethany Mayer sold 6,409 shares of the firm'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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeremy Cox sold 68,590 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $18.44, for a total transaction of $1,264,799.60. The disclosure for this sale can be found here. Insiders have sold a total of 134,999 shares of company stock worth $2,520,534 in the last quarter. Corporate insiders own 0.36% of the company's stock.

Institutional Trading of Hewlett Packard Enterprise

Institutional investors and hedge funds have recently modified their holdings of the business. Putney Financial Group LLC purchased a new stake in shares of Hewlett Packard Enterprise during the fourth quarter valued at $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Hewlett Packard Enterprise during the 1st quarter valued at about $25,000. Bruce G. Allen Investments LLC grew its stake in shares of Hewlett Packard Enterprise by 345.0% in the first quarter. Bruce G. Allen Investments LLC now owns 1,700 shares of the technology company's stock worth $26,000 after acquiring an additional 1,318 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Hewlett Packard Enterprise in the first quarter worth approximately $27,000. Finally, Hara Capital LLC purchased a new position in shares of Hewlett Packard Enterprise during the fourth quarter valued at approximately $28,000. Institutional investors 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.