Wells Fargo & Company Boosts Hewlett Packard Enterprise (NYSE:HPE) Price Target to $19.00

Hewlett Packard Enterprise (NYSE:HPE) had its target price lifted by Wells Fargo & Company from $17.00 to $19.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

A number of other research analysts have also weighed in on HPE. Sanford C. Bernstein lowered shares of Hewlett Packard Enterprise from an outperform rating to a market perform rating and cut their target price for the company from $20.00 to $17.00 in a report on Tuesday, January 16th. Stifel Nicolaus lowered their price objective on shares of Hewlett Packard Enterprise from $20.00 to $18.00 and set a buy rating for the company in a research report on Friday, March 1st. StockNews.com downgraded shares of Hewlett Packard Enterprise from a buy rating to a hold rating in a report on Thursday, April 11th. Evercore ISI decreased their target price on shares of Hewlett Packard Enterprise from $19.00 to $18.00 and set an in-line rating on the stock in a research report on Friday, March 1st. Finally, Morgan Stanley lifted their price target on Hewlett Packard Enterprise from $16.00 to $19.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $17.91.

Hewlett Packard Enterprise Stock Down 1.5 %

HPE opened at $16.79 on Wednesday. The company has a market capitalization of $21.82 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 3.15 and a beta of 1.21. The firm has a 50-day simple moving average of $16.87 and a two-hundred day simple moving average of $16.41. The company has a quick ratio of 0.63, a current ratio of 0.89 and a debt-to-equity ratio of 0.37. Hewlett Packard Enterprise has a 52 week low of $13.65 and a 52 week high of $20.07.

Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Thursday, February 29th. The technology company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Hewlett Packard Enterprise had a return on equity of 9.12% and a net margin of 6.81%. The company had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. Analysts forecast that Hewlett Packard Enterprise will post 1.4 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 15th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.52 annualized dividend and a dividend yield of 3.10%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 35.86%.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Several hedge funds and other institutional investors have recently modified their holdings of the business. Abundance Wealth Counselors increased its stake in Hewlett Packard Enterprise by 10.4% in the first quarter. Abundance Wealth Counselors now owns 28,920 shares of the technology company’s stock worth $513,000 after purchasing an additional 2,715 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Hewlett Packard Enterprise by 5.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,855,377 shares of the technology company’s stock valued at $68,356,000 after buying an additional 196,112 shares during the period. State of Michigan Retirement System boosted its position in Hewlett Packard Enterprise by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 495,581 shares of the technology company’s stock valued at $8,787,000 after buying an additional 5,000 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in Hewlett Packard Enterprise by 1,118.2% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 225,744 shares of the technology company’s stock worth $4,002,000 after acquiring an additional 207,213 shares in the last quarter. Finally, Dumont & Blake Investment Advisors LLC increased its position in shares of Hewlett Packard Enterprise by 39.3% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 17,519 shares of the technology company’s stock worth $311,000 after acquiring an additional 4,943 shares during the period. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

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.