Lonestar Capital Management LLC Acquires New Position in Hewlett Packard Enterprise (NYSE:HPE)

Lonestar Capital Management LLC acquired a new stake in Hewlett Packard Enterprise (NYSE:HPE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 300,000 shares of the technology company's stock, valued at approximately $6,405,000. Hewlett Packard Enterprise accounts for approximately 2.4% of Lonestar Capital Management LLC's investment portfolio, making the stock its 8th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hara Capital LLC bought a new position in Hewlett Packard Enterprise during the 4th quarter valued at $28,000. Tandem Financial LLC acquired a new stake in shares of Hewlett Packard Enterprise in the 4th quarter valued at about $32,000. Conquis Financial LLC bought a new position in shares of Hewlett Packard Enterprise during the fourth quarter worth about $41,000. R Squared Ltd acquired a new position in Hewlett Packard Enterprise in the fourth quarter worth about $45,000. Finally, Tompkins Financial Corp increased its holdings in Hewlett Packard Enterprise by 397.9% in the fourth quarter. Tompkins Financial Corp now owns 2,878 shares of the technology company's stock valued at $61,000 after buying an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 80.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HPE. StockNews.com downgraded Hewlett Packard Enterprise from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Morgan Stanley downgraded shares of Hewlett Packard Enterprise from an "overweight" rating to an "equal weight" rating and set a $14.00 price target on the stock. in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on shares of Hewlett Packard Enterprise from $22.00 to $17.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Susquehanna cut their target price on shares of Hewlett Packard Enterprise from $20.00 to $15.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Finally, Loop Capital dropped their price target on Hewlett Packard Enterprise from $24.00 to $16.00 and set a "hold" rating on the stock in a research report on Monday, March 10th. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.60.

Insider Activity

In related news, Director Bethany Mayer sold 6,409 shares of the stock in a transaction that occurred on 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. 0.36% of the stock is owned by insiders.

Hewlett Packard Enterprise Price Performance

HPE traded up $0.46 on Friday, reaching $16.87. The company had a trading volume of 15,401,532 shares, compared to its average volume of 16,988,040. The company has a market capitalization of $22.16 billion, a P/E ratio of 8.88, 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. The company has a fifty day moving average of $15.90 and a 200-day moving average of $19.60. Hewlett Packard Enterprise has a one year low of $11.97 and a one year high of $24.66.

Hewlett Packard Enterprise Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, March 21st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, March 21st. Hewlett Packard Enterprise's payout ratio is currently 25.37%.

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.