Hewlett Packard Enterprise (NYSE:HPE) Reaches New 1-Year High - Here's Why

Key Points

• Hewlett Packard Enterprise's stock reached a new 52-week high of $24.68, closing at $24.58 with a trading volume of approximately 3.48 million shares.
• Analysts have set new price targets, with Bank of America and Goldman Sachs both raising their targets to $25.00 and maintaining 'buy' ratings, while the stock holds an average rating of 'Moderate Buy'.
• The company declared a quarterly dividend of $0.13 per share, effective from October 17th, representing an annualized yield of 2.1%.

Hewlett Packard Enterprise Company (NYSE:HPE - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.68 and last traded at $24.58, with a volume of 3483998 shares. The stock had previously closed at $23.88.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America raised their price target on Hewlett Packard Enterprise from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. UBS Group raised their price target on Hewlett Packard Enterprise from $18.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, September 4th. Wall Street Zen raised Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. The Goldman Sachs Group raised their price target on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, September 4th. Finally, Wolfe Research started coverage on Hewlett Packard Enterprise in a report on Tuesday, July 8th. They issued a "peer perform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.87.

Hewlett Packard Enterprise Trading Up 2.0%

The company has a current ratio of 0.95, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $32.14 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 2.42 and a beta of 1.43. The firm has a 50-day moving average of $21.39 and a 200 day moving average of $18.41.

Hewlett Packard Enterprise Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, September 18th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.1%. Hewlett Packard Enterprise's dividend payout ratio (DPR) is 63.41%.

Insider Activity

In other news, CEO Antonio F. Neri sold 166,666 shares of Hewlett Packard Enterprise stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.52, for a total transaction of $3,753,318.32. Following the transaction, the chief executive officer directly owned 1,919,060 shares in the company, valued at approximately $43,217,231.20. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Phil Mottram sold 30,000 shares of Hewlett Packard Enterprise stock in a transaction on Monday, June 30th. The shares were sold at an average price of $20.54, for a total value of $616,200.00. Following the transaction, the executive vice president owned 42,427 shares in the company, valued at approximately $871,450.58. This trade represents a 41.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 461,924 shares of company stock worth $10,110,183. 0.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hewlett Packard Enterprise

Hedge funds have recently modified their holdings of the company. Sowell Financial Services LLC acquired a new position in shares of Hewlett Packard Enterprise during the 1st quarter valued at $301,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Hewlett Packard Enterprise by 22.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,320 shares of the technology company's stock worth $2,421,000 after acquiring an additional 28,123 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of Hewlett Packard Enterprise in the 1st quarter worth $164,000. Farther Finance Advisors LLC grew its holdings in shares of Hewlett Packard Enterprise by 2.3% in the 1st quarter. Farther Finance Advisors LLC now owns 31,437 shares of the technology company's stock worth $492,000 after acquiring an additional 699 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Hewlett Packard Enterprise by 21.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,108 shares of the technology company's stock worth $218,000 after acquiring an additional 2,466 shares during the last quarter. 80.78% of the stock is currently 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.

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