Wells Fargo & Company Initiates Coverage on Hewlett Packard Enterprise Company (HPE)

Investment analysts at Wells Fargo & Company initiated coverage on shares of Hewlett Packard Enterprise Company (NYSE:HPE) in a report issued on Tuesday. The firm set a “market perform” rating and a $15.00 price target on the technology company’s stock. Wells Fargo & Company’s price target indicates a potential upside of 13.98% from the company’s current price.

A number of other research firms have also recently commented on HPE. Royal Bank Of Canada reiterated a “hold” rating and issued a $15.00 price objective on shares of Hewlett Packard Enterprise in a report on Wednesday, October 11th. KeyCorp reiterated a “hold” rating on shares of Hewlett Packard Enterprise in a report on Friday, October 20th. UBS AG cut Hewlett Packard Enterprise from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $15.00 in a report on Friday, October 20th. BidaskClub lowered Hewlett Packard Enterprise from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Robert W. Baird reissued a “hold” rating and issued a $16.00 target price on shares of Hewlett Packard Enterprise in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.49.

Hewlett Packard Enterprise (NYSE HPE) opened at $13.16 on Tuesday. Hewlett Packard Enterprise has a twelve month low of $12.97 and a twelve month high of $24.88. The company has a market capitalization of $21,490.29, a P/E ratio of 8.19, a P/E/G ratio of 1.71 and a beta of 2.59. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.27 and a quick ratio of 1.15.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings data on Tuesday, September 5th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Hewlett Packard Enterprise had a return on equity of 9.04% and a net margin of 0.29%. The firm had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. equities analysts anticipate that Hewlett Packard Enterprise will post 1.38 EPS for the current fiscal year.

Hewlett Packard Enterprise declared that its board has approved a stock repurchase plan on Wednesday, October 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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In other Hewlett Packard Enterprise news, CEO Margaret C. Whitman sold 249,052 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $13.14, for a total value of $3,272,543.28. Following the completion of the transaction, the chief executive officer now owns 892,118 shares in the company, valued at $11,722,430.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeff T. Ricci sold 87,324 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $13.43, for a total transaction of $1,172,761.32. Following the completion of the transaction, the senior vice president now owns 24,846 shares of the company’s stock, valued at approximately $333,681.78. The disclosure for this sale can be found here. Insiders sold 2,920,273 shares of company stock valued at $41,288,784 in the last 90 days. 0.87% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WFG Advisors LP boosted its stake in shares of Hewlett Packard Enterprise by 15.3% during the second quarter. WFG Advisors LP now owns 6,043 shares of the technology company’s stock worth $100,000 after buying an additional 801 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in shares of Hewlett Packard Enterprise by 3.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the technology company’s stock worth $108,000 after buying an additional 200 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Hewlett Packard Enterprise by 4.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,713 shares of the technology company’s stock worth $111,000 after buying an additional 266 shares during the period. Archford Capital Strategies LLC boosted its stake in shares of Hewlett Packard Enterprise by 6,858.7% during the second quarter. Archford Capital Strategies LLC now owns 7,585 shares of the technology company’s stock worth $101,000 after buying an additional 7,476 shares during the period. Finally, Harfst & Associates Inc. boosted its stake in shares of Hewlett Packard Enterprise by 42.5% during the second quarter. Harfst & Associates Inc. now owns 7,667 shares of the technology company’s stock worth $127,000 after buying an additional 2,287 shares during the period. Institutional investors own 81.96% of the company’s stock.

About Hewlett Packard Enterprise

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).

Analyst Recommendations for Hewlett Packard Enterprise (NYSE:HPE)

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