Providence Capital Advisors LLC Purchases Shares of 303,500 Hewlett Packard Enterprise (NYSE:HPE)

Providence Capital Advisors LLC purchased a new stake in shares of Hewlett Packard Enterprise (NYSE:HPE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 303,500 shares of the technology company’s stock, valued at approximately $6,210,000.

A number of other large investors have also made changes to their positions in HPE. Capital Investment Counsel Inc raised its holdings in shares of Hewlett Packard Enterprise by 1.2% during the 2nd quarter. Capital Investment Counsel Inc now owns 41,269 shares of the technology company’s stock worth $874,000 after acquiring an additional 500 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Hewlett Packard Enterprise by 4.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 10,933 shares of the technology company’s stock valued at $231,000 after purchasing an additional 501 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Hewlett Packard Enterprise by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 111,617 shares of the technology company’s stock valued at $2,363,000 after acquiring an additional 536 shares during the last quarter. Avior Wealth Management LLC grew its position in Hewlett Packard Enterprise by 6.4% in the 3rd quarter. Avior Wealth Management LLC now owns 9,665 shares of the technology company’s stock valued at $198,000 after acquiring an additional 579 shares during the last quarter. Finally, Bailard Inc. grew its position in shares of Hewlett Packard Enterprise by 1.7% during the 2nd quarter. Bailard Inc. now owns 35,349 shares of the technology company’s stock worth $748,000 after buying an additional 580 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HPE has been the subject of a number of analyst reports. Raymond James upgraded Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $23.00 to $29.00 in a research note on Monday, November 18th. Loop Capital upped their price objective 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. Bank of America upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $21.00 to $24.00 in a research note on Tuesday, September 17th. Citigroup upped their price objective on Hewlett Packard Enterprise from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. 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 for the company. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.21.

Insider Activity at Hewlett Packard Enterprise

In related news, EVP Neil B. Macdonald sold 29,000 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,061 shares in the company, valued at approximately $1,395,037. This trade represents a 26.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Antonio F. Neri sold 83,334 shares of Hewlett Packard Enterprise stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,758,641 shares of the company’s stock, valued at approximately $34,680,400.52. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 426,012 shares of company stock worth $8,599,617. 0.40% of the stock is owned by corporate insiders.

Hewlett Packard Enterprise Trading Down 5.9 %

Hewlett Packard Enterprise stock opened at $20.82 on Thursday. 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 has a 52 week low of $14.47 and a 52 week high of $22.82. The company has a market capitalization of $27.04 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 3.47 and a beta of 1.19. The stock has a 50-day moving average price of $20.58 and a 200 day moving average price of $19.71.

Hewlett Packard Enterprise (NYSE:HPE) last released its earnings results on Wednesday, September 4th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $7.71 billion during 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 revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. Sell-side analysts anticipate that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Hewlett Packard Enterprise Dividend Announcement

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

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.