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

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 given 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 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 dividend payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.1%

Hewlett Packard Enterprise stock opened at $17.89 on Thursday. The company has a market capitalization of $23.50 billion, a P/E ratio of 9.42, a PEG ratio of 2.03 and a beta of 1.29. Hewlett Packard Enterprise has a fifty-two week low of $11.97 and a fifty-two week high of $24.66. The stock has a 50-day simple moving average of $16.09 and a 200-day simple moving average of $19.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.29.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Hewlett Packard Enterprise had a net margin of 8.56% and a return on equity of 8.94%. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.51 billion. During the same quarter in the prior year, the business earned $0.42 EPS. Hewlett Packard Enterprise’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts expect that Hewlett Packard Enterprise will post 1.85 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Bethany Mayer sold 6,409 shares of Hewlett Packard Enterprise stock in a transaction on Friday, April 4th. The stock was sold at an average price of $13.19, for a total transaction of $84,534.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hewlett Packard Enterprise

An institutional investor recently raised its position in Hewlett Packard Enterprise stock. Geneos Wealth Management Inc. grew its holdings in Hewlett Packard Enterprise (NYSE:HPE) by 44.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,456 shares of the technology company’s stock after purchasing an additional 1,377 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Hewlett Packard Enterprise were worth $69,000 at the end of the most recent quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Loop Capital lowered their price target 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. Daiwa America cut Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 12th. UBS Group boosted their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays upped their price target on Hewlett Packard Enterprise from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Hewlett Packard Enterprise from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

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.