Hewlett Packard Enterprise (NYSE:HPE) Reaches New 12-Month High – Here’s What Happened

Hewlett Packard Enterprise (NYSE:HPE)’s share price hit a new 52-week high on Wednesday . The company traded as high as $24.66 and last traded at $24.47, with a volume of 1865263 shares traded. The stock had previously closed at $23.70.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Susquehanna restated a “neutral” rating and set a $20.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, October 11th. Stifel Nicolaus lifted their price objective on shares of Hewlett Packard Enterprise from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Raymond James raised shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $23.00 to $29.00 in a research note on Monday, November 18th. Finally, Loop Capital lifted their price target on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Hewlett Packard Enterprise Trading Down 0.3 %

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 firm has a 50 day moving average price of $21.97 and a 200 day moving average price of $20.38. The stock has a market capitalization of $32.02 billion, a PE ratio of 12.81, a P/E/G ratio of 2.27 and a beta of 1.20.

Hewlett Packard Enterprise Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 20th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Friday, December 20th. Hewlett Packard Enterprise’s payout ratio is currently 27.37%.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, EVP John F. Schultz sold 262,818 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $21.62, for a total transaction of $5,682,125.16. Following the transaction, the executive vice president now owns 270,430 shares of the company’s stock, valued at $5,846,696.60. This trade represents a 49.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeremy Cox sold 7,771 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $23.00, for a total value of $178,733.00. Following the completion of the transaction, the senior vice president now directly owns 61,735 shares of the company’s stock, valued at approximately $1,419,905. This represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 332,166 shares of company stock valued at $7,300,629 in the last three months. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Hewlett Packard Enterprise by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 31,492,740 shares of the technology company’s stock worth $642,748,000 after purchasing an additional 251,076 shares during the period. Pacer Advisors Inc. grew its position in shares of Hewlett Packard Enterprise by 18.1% during the 3rd quarter. Pacer Advisors Inc. now owns 27,383,858 shares of the technology company’s stock valued at $560,274,000 after acquiring an additional 4,194,213 shares during the period. Legal & General Group Plc increased its stake in shares of Hewlett Packard Enterprise by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 16,939,160 shares of the technology company’s stock worth $358,602,000 after purchasing an additional 617,691 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Hewlett Packard Enterprise by 6.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,696,449 shares of the technology company’s stock valued at $321,149,000 after buying an additional 921,624 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Hewlett Packard Enterprise by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,609,078 shares of the technology company’s stock valued at $196,602,000 after acquiring an additional 129,463 shares during the period. Hedge funds and other 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.