Hewlett Packard Enterprise (NYSE:HPE) Shares Gap Up on Analyst Upgrade

Hewlett Packard Enterprise (NYSE:HPE)’s stock price gapped up before the market opened on Tuesday after Morgan Stanley raised their price target on the stock from $14.00 to $22.00. The stock had previously closed at $17.46, but opened at $18.02. Morgan Stanley currently has an equal weight rating on the stock. Hewlett Packard Enterprise shares last traded at $17.81, with a volume of 1,186,771 shares.

Several other analysts have also issued reports on HPE. Loop Capital reduced their price target on shares of 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. Susquehanna dropped their price objective on shares of Hewlett Packard Enterprise from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Daiwa Capital Markets downgraded Hewlett Packard Enterprise from an “outperform” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Wednesday, March 12th. Daiwa America lowered shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Hewlett Packard Enterprise from $22.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Hewlett Packard Enterprise presently has an average rating of “Moderate Buy” and an average target price of $21.13.

Insider Buying and Selling

In related news, Director Bethany Mayer sold 6,409 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $13.19, for a total value of $84,534.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hewlett Packard Enterprise

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Hewlett Packard Enterprise in the first quarter worth $3,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Hewlett Packard Enterprise by 15.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,584,742 shares of the technology company’s stock valued at $271,333,000 after buying an additional 2,373,850 shares during the last quarter. Empowered Funds LLC increased its holdings in Hewlett Packard Enterprise by 317.3% during the first quarter. Empowered Funds LLC now owns 149,810 shares of the technology company’s stock valued at $2,312,000 after buying an additional 113,906 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in Hewlett Packard Enterprise during the first quarter valued at approximately $299,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Hewlett Packard Enterprise by 8.9% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 51,721 shares of the technology company’s stock valued at $798,000 after buying an additional 4,222 shares during the last quarter. 80.78% of the stock is owned by institutional investors.

Hewlett Packard Enterprise Trading Up 2.4%

The firm has a market capitalization of $23.49 billion, a PE ratio of 9.40, a PEG ratio of 2.03 and a beta of 1.29. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $15.71 and its 200 day simple moving average is $19.36.

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, March 21st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, March 21st. Hewlett Packard Enterprise’s dividend payout ratio (DPR) 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.