Hewlett Packard Enterprise (NYSE:HPE) Upgraded by Barclays to “Overweight”

Barclays upgraded shares of Hewlett Packard Enterprise (NYSE:HPE) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has $24.00 target price on the technology company’s stock, up from their previous target price of $20.00.

HPE has been the topic of a number of other reports. Morgan Stanley reissued an equal weight rating and issued a $21.00 price target on shares of Hewlett Packard Enterprise in a report on Thursday, June 20th. Susquehanna reissued a neutral rating and set a $20.00 target price on shares of Hewlett Packard Enterprise in a research report on Friday, September 6th. Citigroup assumed coverage on shares of Hewlett Packard Enterprise in a research note on Monday. They set a neutral rating and a $20.00 price target for the company. Wells Fargo & Company increased their price objective on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an equal weight rating in a report on Wednesday, June 5th. Finally, Evercore ISI boosted their target price on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company an in-line rating in a research note on Wednesday, June 5th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $21.31.

Hewlett Packard Enterprise Stock Up 5.2 %

Hewlett Packard Enterprise stock opened at $19.86 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94. The stock has a market cap of $25.79 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 3.05 and a beta of 1.19. Hewlett Packard Enterprise has a fifty-two week low of $14.47 and a fifty-two week high of $22.82. The firm’s 50-day simple moving average is $18.59 and its 200 day simple moving average is $18.63.

Hewlett Packard Enterprise (NYSE:HPE) last released its earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. Hewlett Packard Enterprise’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. Research analysts predict that Hewlett Packard Enterprise will post 1.66 EPS for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, September 19th. Hewlett Packard Enterprise’s payout ratio is presently 37.96%.

Insider Activity

In related news, EVP Neil B. Macdonald sold 29,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the transaction, the executive vice president now owns 82,061 shares of the company’s stock, valued at $1,395,037. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Hewlett Packard Enterprise

A number of large investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in shares of Hewlett Packard Enterprise during the 2nd quarter valued at $5,854,000. Cetera Investment Advisers raised its position in Hewlett Packard Enterprise by 30.2% during the second quarter. Cetera Investment Advisers now owns 157,793 shares of the technology company’s stock valued at $3,341,000 after purchasing an additional 36,589 shares in the last quarter. Truist Financial Corp lifted its stake in Hewlett Packard Enterprise by 16.8% during the second quarter. Truist Financial Corp now owns 390,521 shares of the technology company’s stock worth $8,267,000 after purchasing an additional 56,288 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Hewlett Packard Enterprise in the 2nd quarter worth about $684,000. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Hewlett Packard Enterprise by 20.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 30,741 shares of the technology company’s stock worth $651,000 after purchasing an additional 5,183 shares in the last quarter. 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.