Hewlett Packard Enterprise (NYSE:HPE) Shares Gap Up to $21.84

Hewlett Packard Enterprise (NYSE:HPE) gapped up before the market opened on Thursday . The stock had previously closed at $21.84, but opened at $22.66. Hewlett Packard Enterprise shares last traded at $22.32, with a volume of 2,345,573 shares.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $21.00 target price on shares of Hewlett Packard Enterprise in a report on Thursday. Stifel Nicolaus raised their price objective on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Susquehanna boosted their target price on shares of Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Argus raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, June 7th. Finally, Wells Fargo & Company upped their price target on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hewlett Packard Enterprise currently has an average rating of “Hold” and an average price target of $20.85.

Hewlett Packard Enterprise Price Performance

The company has a market capitalization of $27.19 billion, a PE ratio of 15.27, a P/E/G ratio of 3.15 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.59 and a current ratio of 0.90. The stock has a 50 day moving average price of $18.35 and a two-hundred day moving average price of $17.16.

Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Tuesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Hewlett Packard Enterprise had a net margin of 6.38% and a return on equity of 8.49%. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Hewlett Packard Enterprise will post 1.59 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, June 19th will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.52 annualized dividend and a yield of 2.49%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 37.96%.

Insider Transactions at Hewlett Packard Enterprise

In related news, EVP Neil B. Macdonald sold 36,671 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $20.51, for a total value of $752,122.21. Following the transaction, the executive vice president now directly owns 111,054 shares of the company’s stock, valued at approximately $2,277,717.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gary M. Reiner sold 50,000 shares of Hewlett Packard Enterprise stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $19.51, for a total value of $975,500.00. Following the transaction, the director now owns 150,948 shares in the company, valued at approximately $2,944,995.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Neil B. Macdonald sold 36,671 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $20.51, for a total transaction of $752,122.21. Following the sale, the executive vice president now owns 111,054 shares of the company’s stock, valued at $2,277,717.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,464 shares of company stock worth $3,160,866. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hewlett Packard Enterprise

Several large investors have recently made changes to their positions in the business. Raymond James & Associates increased its position in Hewlett Packard Enterprise by 13.2% in the 4th quarter. Raymond James & Associates now owns 932,921 shares of the technology company’s stock worth $15,841,000 after buying an additional 108,971 shares during the period. Mackenzie Financial Corp boosted its holdings in Hewlett Packard Enterprise by 17.4% in the 4th quarter. Mackenzie Financial Corp now owns 1,562,640 shares of the technology company’s stock valued at $26,534,000 after purchasing an additional 232,150 shares during the period. TCW Group Inc. bought a new stake in Hewlett Packard Enterprise in the 4th quarter valued at $348,000. Truist Financial Corp grew its position in Hewlett Packard Enterprise by 1.5% in the 4th quarter. Truist Financial Corp now owns 80,501 shares of the technology company’s stock worth $1,367,000 after purchasing an additional 1,190 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Hewlett Packard Enterprise by 49.0% during the 4th quarter. TD Asset Management Inc now owns 799,850 shares of the technology company’s stock worth $13,581,000 after purchasing an additional 263,182 shares during the period. Institutional investors and hedge funds 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.