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

Hewlett Packard Enterprise (NYSE:HPE) had its price objective boosted by Wells Fargo & Company from $17.00 to $19.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Several other brokerages have also issued reports on HPE. Sanford C. Bernstein lowered Hewlett Packard Enterprise from an outperform rating to a market perform rating and dropped their price target for the stock from $20.00 to $17.00 in a research note on Tuesday, January 16th. Stifel Nicolaus dropped their target price on 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. Barclays reduced their price target on shares of Hewlett Packard Enterprise from $15.00 to $14.00 and set an equal weight rating on the stock in a research report on Friday, March 1st. StockNews.com lowered shares of Hewlett Packard Enterprise from a buy rating to a hold rating in a report on Thursday, April 11th. Finally, Evercore ISI cut their price objective on shares of Hewlett Packard Enterprise from $19.00 to $18.00 and set an in-line rating for the company in a research note on Friday, March 1st. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $17.91.

Hewlett Packard Enterprise Stock Performance

Shares of HPE opened at $16.79 on Wednesday. Hewlett Packard Enterprise has a 12-month low of $13.65 and a 12-month high of $20.07. The company has a current ratio of 0.89, a quick ratio of 0.63 and a debt-to-equity ratio of 0.37. The company has a market cap 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 stock has a 50-day moving average price of $16.87 and a 200-day moving average price of $16.41.

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

Hewlett Packard Enterprise Dividend Announcement

The company also recently declared 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 yield of 3.10%. Hewlett Packard Enterprise’s payout ratio is currently 35.86%.

Institutional Investors Weigh In On Hewlett Packard Enterprise

A number of large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC grew its stake in shares of Hewlett Packard Enterprise by 253.9% in the first quarter. Rise Advisors LLC now owns 1,465 shares of the technology company’s stock worth $26,000 after purchasing an additional 1,051 shares during the last quarter. Authentikos Wealth Advisory LLC bought a new stake in shares of Hewlett Packard Enterprise in the 3rd quarter worth approximately $31,000. Ritter Daniher Financial Advisory LLC DE bought a new stake in shares of Hewlett Packard Enterprise in the 3rd quarter worth approximately $33,000. Salem Investment Counselors Inc. increased its stake in shares of Hewlett Packard Enterprise by 180.1% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,961 shares of the technology company’s stock valued at $33,000 after buying an additional 1,261 shares during the period. Finally, Johnson Financial Group Inc. bought a new position in shares of Hewlett Packard Enterprise during the fourth quarter valued at approximately $35,000. Institutional investors own 80.78% of the company’s stock.

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.