Providence Capital Advisors LLC Takes $6.21 Million Position in Hewlett Packard Enterprise (NYSE:HPE)

Providence Capital Advisors LLC acquired a new stake in Hewlett Packard Enterprise (NYSE:HPE) in the third quarter, Holdings Channel.com reports. The firm acquired 303,500 shares of the technology company’s stock, valued at approximately $6,210,000.

A number of other institutional investors have also recently made changes to their positions in HPE. BOKF NA boosted its stake in shares of Hewlett Packard Enterprise by 23.8% in the first quarter. BOKF NA now owns 4,673 shares of the technology company’s stock worth $84,000 after acquiring an additional 898 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Hewlett Packard Enterprise by 20.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,067,721 shares of the technology company’s stock worth $36,662,000 after acquiring an additional 347,067 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Hewlett Packard Enterprise by 24.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 49,511 shares of the technology company’s stock worth $866,000 after acquiring an additional 9,667 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Hewlett Packard Enterprise by 3.0% in the first quarter. California State Teachers Retirement System now owns 2,165,713 shares of the technology company’s stock worth $38,398,000 after acquiring an additional 63,020 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Hewlett Packard Enterprise by 36.5% in the first quarter. Comerica Bank now owns 266,326 shares of the technology company’s stock worth $4,722,000 after acquiring an additional 71,267 shares during the last quarter. 80.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HPE. Loop Capital lifted their price target on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Monday, September 9th. UBS Group boosted their price objective on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Bank of America raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $24.00 in a research note on Tuesday, September 17th. Raymond James raised Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $23.00 to $29.00 in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Hewlett Packard Enterprise in a research note on Wednesday, October 9th. They set a “hold” rating and a $22.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.21.

Hewlett Packard Enterprise Stock Performance

Shares of Hewlett Packard Enterprise stock opened at $20.82 on Thursday. Hewlett Packard Enterprise has a 52 week low of $14.47 and a 52 week high of $22.82. The business’s fifty day simple moving average is $20.58 and its 200-day simple moving average is $19.71. The firm has a market cap of $27.04 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 3.47 and a beta of 1.19. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 0.36.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS. Equities analysts forecast that Hewlett Packard Enterprise will post 1.66 earnings per share for the current year.

Hewlett Packard Enterprise Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.52 annualized dividend and a yield of 2.50%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is 37.14%.

Insiders Place Their Bets

In related news, EVP Fidelma Russo sold 55,908 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.99, for a total value of $1,117,600.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Antonio F. Neri sold 83,334 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $19.72, for a total value of $1,643,346.48. Following the completion of the sale, the chief executive officer now directly owns 1,758,641 shares of the company’s stock, valued at approximately $34,680,400.52. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 426,012 shares of company stock worth $8,599,617 in the last quarter. 0.40% of the stock is owned by company insiders.

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.