Hewlett Packard Enterprise Declares Quarterly Dividend of $0.13 (NYSE:HPE)

Hewlett Packard Enterprise (NYSE:HPE) announced a quarterly dividend on Wednesday, June 4th, Wall Street Journal reports. Shareholders of record on Wednesday, June 18th will be paid a dividend of 0.13 per share by the technology company on Thursday, July 17th. This represents a $0.52 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, June 18th.

Hewlett Packard Enterprise has raised its dividend by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Hewlett Packard Enterprise has a payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hewlett Packard Enterprise to earn $2.02 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 25.7%.

Hewlett Packard Enterprise Price Performance

Shares of NYSE:HPE opened at $17.89 on Thursday. The company has a market cap of $23.50 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.29. The company’s 50 day moving average is $16.09 and its 200 day moving average is $19.08. Hewlett Packard Enterprise has a twelve month low of $11.97 and a twelve month high of $24.66. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.51 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 8.56%. Hewlett Packard Enterprise’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. On average, sell-side analysts forecast that Hewlett Packard Enterprise will post 1.85 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on HPE shares. Susquehanna decreased their price objective on Hewlett Packard Enterprise from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Wall Street Zen downgraded shares of Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. UBS Group boosted their price target on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James increased their price objective on shares of Hewlett Packard Enterprise from $23.00 to $26.00 and gave the company a “strong-buy” rating in a report on Wednesday. Finally, Loop Capital lowered their target price on Hewlett Packard Enterprise from $24.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Hewlett Packard Enterprise has an average rating of “Moderate Buy” and an average price target of $21.33.

Insiders Place Their Bets

In other news, Director Bethany Mayer sold 6,409 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $13.19, for a total value of $84,534.71. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hewlett Packard Enterprise stock. Geneos Wealth Management Inc. raised its holdings in Hewlett Packard Enterprise (NYSE:HPE) by 44.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,456 shares of the technology company’s stock after buying an additional 1,377 shares during the period. Geneos Wealth Management Inc.’s holdings in Hewlett Packard Enterprise were worth $69,000 as of its most recent SEC filing. 80.78% of the stock is owned by hedge funds and other institutional investors.

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.