Bank of America Corporation downgraded shares of Hewlett Packard Enterprise Company (NYSE:HPE) from a neutral rating to an underperform rating in a research report report published on Wednesday morning, MarketBeat reports. Bank of America Corporation currently has $13.00 target price on the technology company’s stock, down from their previous target price of $15.00.

Several other research firms have also weighed in on HPE. Stifel Nicolaus restated a hold rating and set a $20.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, May 26th. Robert W. Baird reiterated a hold rating on shares of Hewlett Packard Enterprise in a research note on Thursday, June 1st. Credit Suisse Group reiterated a buy rating and issued a $21.00 target price on shares of Hewlett Packard Enterprise in a research note on Tuesday, May 23rd. Barclays PLC reduced their target price on Hewlett Packard Enterprise from $21.00 to $18.00 and set an underweight rating on the stock in a research note on Wednesday, May 10th. Finally, Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $17.00 target price on shares of Hewlett Packard Enterprise in a research note on Friday, September 1st. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $19.18.

Shares of Hewlett Packard Enterprise (NYSE HPE) traded down 0.98% on Wednesday, hitting $13.12. 24,308,651 shares of the stock traded hands. The firm has a 50 day moving average price of $13.68 and a 200 day moving average price of $13.68. The firm has a market cap of $21.55 billion, a PE ratio of 9.95 and a beta of 2.72. Hewlett Packard Enterprise has a 52-week low of $11.99 and a 52-week high of $14.86.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings results on Tuesday, September 5th. The technology company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.49 billion. During the same quarter in the prior year, the firm posted $0.49 EPS. Hewlett Packard Enterprise’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that Hewlett Packard Enterprise will post $1.39 EPS for the current year.

TRADEMARK VIOLATION WARNING: This news story was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another site, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/09/09/hewlett-packard-enterprise-company-hpe-downgraded-by-bank-of-america-corporation.html.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Tuesday, September 12th. Hewlett Packard Enterprise’s payout ratio is currently 371.48%.

In related news, CEO Margaret C. Whitman sold 62,652 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $16.71, for a total transaction of $1,046,914.92. Following the sale, the chief executive officer now owns 830,251 shares of the company’s stock, valued at $13,873,494.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christopher P. Hsu sold 15,333 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $17.67, for a total value of $270,934.11. Following the sale, the executive vice president now directly owns 15,333 shares in the company, valued at approximately $270,934.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,963,677 shares of company stock worth $34,198,508. 0.87% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Guardian Life Insurance Co. of America boosted its position in Hewlett Packard Enterprise by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 6,427 shares of the technology company’s stock valued at $152,000 after purchasing an additional 43 shares in the last quarter. Buckingham Asset Management LLC boosted its position in Hewlett Packard Enterprise by 0.5% during the first quarter. Buckingham Asset Management LLC now owns 19,748 shares of the technology company’s stock valued at $468,000 after purchasing an additional 106 shares in the last quarter. Tdam USA Inc. boosted its position in Hewlett Packard Enterprise by 0.9% during the first quarter. Tdam USA Inc. now owns 17,792 shares of the technology company’s stock valued at $422,000 after purchasing an additional 162 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its position in 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 valued at $108,000 after purchasing an additional 200 shares in the last quarter. Finally, Cleararc Capital Inc. boosted its position in Hewlett Packard Enterprise by 0.5% during the first quarter. Cleararc Capital Inc. now owns 40,716 shares of the technology company’s stock valued at $965,000 after purchasing an additional 221 shares in the last quarter. 80.21% of the stock is currently owned by institutional investors.

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).

Analyst Recommendations for Hewlett Packard Enterprise (NYSE:HPE)

Receive News & Stock Ratings for Hewlett Packard Enterprise Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hewlett Packard Enterprise Company and related stocks with our FREE daily email newsletter.