Investors Buy Hewlett Packard Enterprise (HPE) on Weakness

Traders purchased shares of Hewlett Packard Enterprise Company (NYSE:HPE) on weakness during trading on Friday. $40.95 million flowed into the stock on the tick-up and $13.28 million flowed out of the stock on the tick-down, for a money net flow of $27.67 million into the stock. Of all companies tracked, Hewlett Packard Enterprise had the 25th highest net in-flow for the day. Hewlett Packard Enterprise traded down ($0.01) for the day and closed at $15.05

HPE has been the subject of several recent research reports. Royal Bank of Canada reissued a “hold” rating and issued a $15.00 price objective on shares of Hewlett Packard Enterprise in a report on Wednesday, October 11th. KeyCorp reissued a “hold” rating on shares of Hewlett Packard Enterprise in a report on Friday, October 20th. UBS Group lowered Hewlett Packard Enterprise from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $15.00 in a report on Friday, October 20th. Robert W. Baird reissued a “hold” rating and issued a $16.00 price objective on shares of Hewlett Packard Enterprise in a report on Thursday, October 19th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $18.00 target price on shares of Hewlett Packard Enterprise in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Hewlett Packard Enterprise presently has a consensus rating of “Hold” and an average price target of $16.04.

The stock has a market capitalization of $23,990.00 and a PE ratio of 60.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.01 and a current ratio of 1.13.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings results on Tuesday, November 21st. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.78 billion. Hewlett Packard Enterprise had a return on equity of 7.70% and a net margin of 0.93%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. research analysts predict that Hewlett Packard Enterprise Company will post 1.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Tuesday, December 12th. This is an increase from Hewlett Packard Enterprise’s previous quarterly dividend of $0.07. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is 120.00%.

Hewlett Packard Enterprise announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, EVP Alan Richard May sold 42,314 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $14.00, for a total transaction of $592,396.00. Following the completion of the sale, the executive vice president now owns 84,629 shares in the company, valued at approximately $1,184,806. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy C. Stonesifer sold 56,170 shares of Hewlett Packard Enterprise stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $13.79, for a total value of $774,584.30. Following the sale, the chief financial officer now owns 177,634 shares of the company’s stock, valued at approximately $2,449,572.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 693,409 shares of company stock valued at $9,755,481. Corporate insiders own 0.87% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of HPE. Dodge & Cox lifted its position in Hewlett Packard Enterprise by 12.2% in the 2nd quarter. Dodge & Cox now owns 238,615,401 shares of the technology company’s stock worth $3,958,630,000 after buying an additional 25,852,541 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Hewlett Packard Enterprise by 32.7% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 67,334,620 shares of the technology company’s stock worth $1,117,081,000 after buying an additional 16,592,308 shares during the last quarter. Pzena Investment Management LLC lifted its position in Hewlett Packard Enterprise by 69.7% in the 3rd quarter. Pzena Investment Management LLC now owns 37,560,840 shares of the technology company’s stock worth $552,520,000 after buying an additional 15,431,606 shares during the last quarter. Schroder Investment Management Group lifted its position in Hewlett Packard Enterprise by 71.0% in the 3rd quarter. Schroder Investment Management Group now owns 12,475,175 shares of the technology company’s stock worth $181,763,000 after buying an additional 5,177,979 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Hewlett Packard Enterprise in the 3rd quarter worth approximately $59,407,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, 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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