Hewlett Packard Enterprise Company (NYSE:HPE) Position Lifted by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its stake in Hewlett Packard Enterprise by 70.6%, owning approximately 747,342 shares worth about $11.53 million as of the end of the 1st quarter.
• Hewlett Packard Enterprise reported a quarterly earnings per share (EPS) of $0.38, surpassing analysts' expectations and showing a revenue increase of 5.9% compared to the previous year.
• The company recently declared a quarterly dividend of $0.13 per share, resulting in an annualized dividend of $0.52 and a dividend yield of 2.6%.

Bank of Nova Scotia raised its stake in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 70.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 747,342 shares of the technology company's stock after acquiring an additional 309,231 shares during the period. Bank of Nova Scotia owned approximately 0.06% of Hewlett Packard Enterprise worth $11,531,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. World Investment Advisors acquired a new position in shares of Hewlett Packard Enterprise in the fourth quarter valued at approximately $593,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Hewlett Packard Enterprise in the fourth quarter valued at approximately $8,361,000. Cerity Partners LLC grew its holdings in shares of Hewlett Packard Enterprise by 4.7% in the fourth quarter. Cerity Partners LLC now owns 316,540 shares of the technology company's stock valued at $6,711,000 after purchasing an additional 14,338 shares in the last quarter. Twin Capital Management Inc. grew its holdings in shares of Hewlett Packard Enterprise by 7.4% in the fourth quarter. Twin Capital Management Inc. now owns 33,003 shares of the technology company's stock valued at $705,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Shelton Capital Management grew its holdings in shares of Hewlett Packard Enterprise by 46.8% in the fourth quarter. Shelton Capital Management now owns 426,691 shares of the technology company's stock valued at $9,110,000 after purchasing an additional 136,000 shares in the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HPE has been the topic of a number of recent analyst reports. Raymond James Financial increased their price objective on shares of Hewlett Packard Enterprise from $23.00 to $26.00 and gave the company a "strong-buy" rating in a research report on Wednesday, June 4th. Morgan Stanley increased their price objective on shares of Hewlett Packard Enterprise from $14.00 to $22.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. UBS Group increased their price objective on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Wells Fargo & Company increased their target price on shares of Hewlett Packard Enterprise from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Thursday, July 3rd. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Hewlett Packard Enterprise has a consensus rating of "Moderate Buy" and an average target price of $22.87.

Hewlett Packard Enterprise Trading Up 1.3%

Shares of NYSE:HPE traded up $0.27 during trading on Wednesday, reaching $20.14. The stock had a trading volume of 18,905,209 shares, compared to its average volume of 15,970,526. The business has a fifty day moving average price of $19.44 and a 200-day moving average price of $18.39. The company has a quick ratio of 0.96, a current ratio of 1.29 and a debt-to-equity ratio of 0.52. The stock has a market cap of $26.42 billion, a P/E ratio of 11.97, a PEG ratio of 2.18 and a beta of 1.37. Hewlett Packard Enterprise Company has a fifty-two week low of $11.97 and a fifty-two week high of $24.66.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. Hewlett Packard Enterprise had a net margin of 4.60% and a return on equity of 9.59%. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.51 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. Hewlett Packard Enterprise's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts anticipate that Hewlett Packard Enterprise Company will post 1.85 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.6%. The ex-dividend date was Wednesday, June 18th. Hewlett Packard Enterprise's payout ratio is currently 52.53%.

Insider Activity at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, SVP Jeremy Cox sold 68,590 shares of the business's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Phil Mottram sold 30,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $20.54, for a total transaction of $616,200.00. Following the sale, the executive vice president owned 42,427 shares of the company's stock, valued at approximately $871,450.58. This represents a 41.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,590 shares of company stock valued at $2,436,000. 0.36% of the stock is owned by insiders.

Hewlett Packard Enterprise 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.