Norges Bank Buys New Shares in Hewlett Packard Enterprise (NYSE:HPE)

Norges Bank purchased a new position in shares of Hewlett Packard Enterprise (NYSE:HPE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,576,901 shares of the technology company’s stock, valued at approximately $119,067,000. Norges Bank owned 0.42% of Hewlett Packard Enterprise as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in HPE. Mather Group LLC. lifted its holdings in shares of Hewlett Packard Enterprise by 6.2% during the fourth quarter. Mather Group LLC. now owns 7,557 shares of the technology company’s stock worth $161,000 after purchasing an additional 440 shares during the period. Lakewood Asset Management LLC lifted its stake in Hewlett Packard Enterprise by 0.4% during the 4th quarter. Lakewood Asset Management LLC now owns 104,990 shares of the technology company’s stock valued at $2,242,000 after acquiring an additional 457 shares during the period. Essex Financial Services Inc. boosted its holdings in shares of Hewlett Packard Enterprise by 3.6% in the 4th quarter. Essex Financial Services Inc. now owns 13,396 shares of the technology company’s stock valued at $286,000 after acquiring an additional 461 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of Hewlett Packard Enterprise by 0.8% in the fourth quarter. Westside Investment Management Inc. now owns 62,523 shares of the technology company’s stock worth $1,335,000 after acquiring an additional 475 shares during the period. Finally, Aviso Financial Inc. raised its holdings in shares of Hewlett Packard Enterprise by 0.9% during the fourth quarter. Aviso Financial Inc. now owns 54,060 shares of the technology company’s stock worth $1,154,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on HPE shares. Stifel Nicolaus increased their price target on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Daiwa America cut Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Barclays lowered their price objective on Hewlett Packard Enterprise from $27.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Daiwa Capital Markets lowered shares of Hewlett Packard Enterprise from an “outperform” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Wednesday, March 12th. Finally, Morgan Stanley lowered their price target on shares of Hewlett Packard Enterprise from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Hewlett Packard Enterprise presently has an average rating of “Moderate Buy” and a consensus price target of $21.27.

Hewlett Packard Enterprise Price Performance

Shares of Hewlett Packard Enterprise stock opened at $15.51 on Tuesday. The stock has a market capitalization of $20.37 billion, a P/E ratio of 8.16, a PEG ratio of 2.03 and a beta of 1.20. The business has a 50 day simple moving average of $19.40 and a two-hundred day simple moving average of $20.45. Hewlett Packard Enterprise has a 12 month low of $14.64 and a 12 month high of $24.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.99.

Hewlett Packard Enterprise Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be issued a $0.13 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.52 dividend on an annualized basis and a yield of 3.35%. Hewlett Packard Enterprise’s payout ratio is currently 25.37%.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 11,577 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $23.00, for a total value of $266,271.00. Following the completion of the sale, the senior vice president now directly owns 48,615 shares in the company, valued at $1,118,145. This represents a 19.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.36% of the company’s stock.

About Hewlett Packard Enterprise

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.