Investors Sell Hewlett Packard Enterprise Co. (HPE) on Strength Following Analyst Downgrade
Investors sold shares of Hewlett Packard Enterprise Co. (NYSE:HPE) on strength during trading hours on Monday after Vetr downgraded the stock from a strong-buy rating to a buy rating. $45.11 million flowed into the stock on the tick-up and $80.68 million flowed out of the stock on the tick-down, for a money net flow of $35.57 million out of the stock. Of all stocks tracked, Hewlett Packard Enterprise had the 0th highest net out-flow for the day. Hewlett Packard Enterprise traded up $0.12 for the day and closed at $23.34
A number of other brokerages have also recently weighed in on HPE. Raymond James Financial Inc. raised shares of Hewlett Packard Enterprise from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $23.60 to $29.00 in a report on Friday, November 18th. Jefferies Group dropped their target price on shares of Hewlett Packard Enterprise from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, November 18th. BMO Capital Markets increased their target price on shares of Hewlett Packard Enterprise from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, November 23rd. Deutsche Bank AG increased their target price on shares of Hewlett Packard Enterprise from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 23rd. Finally, Oppenheimer Holdings Inc. set a $25.00 target price on shares of Hewlett Packard Enterprise and gave the stock a “buy” rating in a report on Monday, November 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the stock. Hewlett Packard Enterprise presently has a consensus rating of “Hold” and a consensus price target of $22.83.
In related news, CFO Timothy C. Stonesifer sold 101,610 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $22.01, for a total transaction of $2,236,436.10. Following the completion of the sale, the chief financial officer now directly owns 101,610 shares in the company, valued at $2,236,436.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael G. Nefkens sold 107,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $22.00, for a total transaction of $2,365,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. OZ Management LP boosted its stake in Hewlett Packard Enterprise by 212.4% in the third quarter. OZ Management LP now owns 8,391,778 shares of the company’s stock valued at $190,913,000 after buying an additional 5,705,284 shares in the last quarter. Empyrean Capital Partners LP bought a new stake in Hewlett Packard Enterprise during the third quarter valued at approximately $113,771,000. UBS Asset Management Americas Inc. boosted its stake in Hewlett Packard Enterprise by 80.5% in the second quarter. UBS Asset Management Americas Inc. now owns 9,764,375 shares of the company’s stock valued at $178,395,000 after buying an additional 4,354,541 shares in the last quarter. Marshall Wace LLP boosted its stake in Hewlett Packard Enterprise by 282.2% in the second quarter. Marshall Wace LLP now owns 4,684,407 shares of the company’s stock valued at $85,584,000 after buying an additional 3,458,745 shares in the last quarter. Finally, MD Sass Investors Services Inc. bought a new stake in Hewlett Packard Enterprise during the second quarter valued at approximately $55,797,000. Institutional investors and hedge funds own 78.37% of the company’s stock.
The company has a market capitalization of $39.54 billion and a price-to-earnings ratio of 9.90. The company has a 50 day moving average of $22.48 and a 200-day moving average of $20.79.
Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm earned $12.50 billion during the quarter, compared to analysts’ expectations of $12.85 billion. Hewlett Packard Enterprise had a return on equity of 10.38% and a net margin of 6.31%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. On average, equities analysts anticipate that Hewlett Packard Enterprise Co. will post $2.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.065 per share. This is a boost from Hewlett Packard Enterprise’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Monday, December 12th. Hewlett Packard Enterprise’s payout ratio is currently 12.02%.
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Hewlett Packard Enterprise Company Profile
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company operates through five segments: Enterprise Group, Software, Enterprise Services, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).
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