Bank of America Boosts Hewlett Packard Enterprise (NYSE:HPE) Price Target to $25.00

Key Points

• Bank of America raised its price target for Hewlett Packard Enterprise (HPE) from $24.00 to $25.00, maintaining a "buy" rating, indicating a potential upside of 11.93% from its current price.
• Hewlett Packard Enterprise reported earnings of $0.38 EPS for the last quarter, surpassing analysts' expectations and showing a 5.9% year-over-year revenue increase to $7.63 billion.
• The stock is currently receiving mixed ratings from analysts, with two giving it a Strong Buy, seven a Buy, and nine a Hold, resulting in an average rating of "Moderate Buy" with a consensus price target of $23.33.

Hewlett Packard Enterprise (NYSE:HPE - Free Report) had its price objective boosted by Bank of America from $24.00 to $25.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the technology company's stock.

HPE has been the subject of several other reports. Loop Capital boosted their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Evercore ISI boosted their target price on Hewlett Packard Enterprise from $25.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Wells Fargo & Company lifted their price target on Hewlett Packard Enterprise from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 3rd. KeyCorp began coverage on Hewlett Packard Enterprise in a research note on Thursday, June 26th. They set a "sector weight" rating for the company. Finally, UBS Group lifted their price target on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.87.

Hewlett Packard Enterprise Price Performance

Hewlett Packard Enterprise stock traded up $0.37 during midday trading on Tuesday, hitting $23.53. 24,229,009 shares of the company's stock were exchanged, compared to its average volume of 19,697,092. Hewlett Packard Enterprise has a 52-week low of $11.97 and a 52-week high of $24.66. The stock has a 50-day moving average price of $21.26 and a two-hundred day moving average price of $18.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.29. The company has a market cap of $30.88 billion, a P/E ratio of 28.70, a PEG ratio of 2.07 and a beta of 1.43.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last posted its 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 return on equity of 8.99% and a net margin of 3.77%.The business had revenue of $7.63 billion during the quarter, compared to analysts' expectations of $7.51 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The firm's revenue was up 5.9% on a year-over-year basis. On average, equities research analysts forecast that Hewlett Packard Enterprise will post 1.85 earnings per share for the current year.

Hewlett Packard Enterprise Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, September 18th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 18th. Hewlett Packard Enterprise's payout ratio is 63.41%.

Insider Activity

In related news, EVP Phil Mottram sold 30,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $20.54, for a total transaction of $616,200.00. Following the transaction, the executive vice president owned 42,427 shares in the company, valued at $871,450.58. The trade was a 41.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Antonio F. Neri sold 83,334 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $24.04, for a total value of $2,003,349.36. Following the transaction, the chief executive officer owned 1,752,392 shares in the company, valued at approximately $42,127,503.68. This represents a 4.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 461,924 shares of company stock valued at $10,110,183. Insiders own 0.36% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Putney Financial Group LLC purchased a new position in Hewlett Packard Enterprise during the 4th quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new position in Hewlett Packard Enterprise during the 1st quarter valued at about $25,000. Bruce G. Allen Investments LLC grew its holdings in shares of Hewlett Packard Enterprise by 345.0% during the 1st 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. Headlands Technologies LLC purchased a new position in shares of Hewlett Packard Enterprise during the 2nd quarter worth approximately $26,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Hewlett Packard Enterprise during the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 80.78% of the company's stock.

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.