Pallas Capital Advisors LLC Purchases New Stake in Hewlett Packard Enterprise (NYSE:HPE)

Pallas Capital Advisors LLC bought a new stake in Hewlett Packard Enterprise (NYSE:HPE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 20,534 shares of the technology company’s stock, valued at approximately $424,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC boosted its stake in Hewlett Packard Enterprise by 253.9% during the 1st quarter. Rise Advisors LLC now owns 1,465 shares of the technology company’s stock valued at $26,000 after purchasing an additional 1,051 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Hewlett Packard Enterprise during the fourth quarter valued at approximately $35,000. American National Bank raised its holdings in Hewlett Packard Enterprise by 89.4% during the first quarter. American National Bank now owns 1,949 shares of the technology company’s stock worth $35,000 after purchasing an additional 920 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Hewlett Packard Enterprise by 224.5% in the second quarter. ORG Partners LLC now owns 1,853 shares of the technology company’s stock valued at $39,000 after buying an additional 1,282 shares during the period. Finally, Founders Financial Alliance LLC grew its holdings in Hewlett Packard Enterprise by 52.8% during the fourth quarter. Founders Financial Alliance LLC now owns 2,463 shares of the technology company’s stock worth $42,000 after acquiring an additional 851 shares during the period. 80.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hewlett Packard Enterprise

In related news, Director Gary M. Reiner sold 50,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $19.51, for a total transaction of $975,500.00. Following the completion of the sale, the director now directly owns 150,948 shares of the company’s stock, valued at approximately $2,944,995.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hewlett Packard Enterprise news, Director Gary M. Reiner sold 50,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $19.51, for a total value of $975,500.00. Following the completion of the transaction, the director now directly owns 150,948 shares of the company’s stock, valued at $2,944,995.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kirt P. Karros sold 30,686 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $20.49, for a total transaction of $628,756.14. The disclosure for this sale can be found here. Insiders sold 140,141 shares of company stock valued at $2,850,108 in the last ninety days. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company an “in-line” rating in a research report on Wednesday, June 5th. Stifel Nicolaus increased their price objective on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Barclays boosted their target price on Hewlett Packard Enterprise from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. UBS Group lifted their price target on Hewlett Packard Enterprise from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 5th. Finally, Argus raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, June 7th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hewlett Packard Enterprise currently has an average rating of “Hold” and a consensus price target of $21.08.

Hewlett Packard Enterprise Stock Performance

HPE traded down $0.11 during midday trading on Wednesday, reaching $18.66. The company’s stock had a trading volume of 953,136 shares, compared to its average volume of 15,127,914. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $22.82. The stock has a market cap of $24.25 billion, a P/E ratio of 13.65, a PEG ratio of 2.76 and a beta of 1.20. The company has a fifty day simple moving average of $20.02 and a 200 day simple moving average of $18.18. The company has a current ratio of 0.90, a quick ratio of 0.59 and a debt-to-equity ratio of 0.34.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.82 billion. Hewlett Packard Enterprise had a return on equity of 8.49% and a net margin of 6.38%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. Research analysts expect that Hewlett Packard Enterprise will post 1.59 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, June 19th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Tuesday, June 18th. Hewlett Packard Enterprise’s payout ratio is 37.96%.

Hewlett Packard Enterprise 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.