Hewlett Packard Enterprise (NYSE:HPE) Reaches New 52-Week Low – Here’s Why

Hewlett Packard Enterprise (NYSE:HPE) hit a new 52-week low during trading on Thursday . The company traded as low as $14.19 and last traded at $14.22, with a volume of 9676054 shares trading hands. The stock had previously closed at $16.12.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HPE shares. StockNews.com downgraded shares of Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Daiwa America cut shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Bank of America dropped their target price on Hewlett Packard Enterprise from $26.00 to $20.00 and set a “buy” rating for the company in a report on Friday, March 7th. Citigroup raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their price target for the company from $23.00 to $26.00 in a research note on Friday, December 6th. Finally, Stifel Nicolaus increased their price objective on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.27.

Hewlett Packard Enterprise Stock Performance

The stock has a market capitalization of $17.96 billion, a price-to-earnings ratio of 7.21, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.99. The stock has a 50-day moving average of $19.07 and a 200 day moving average of $20.41.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.52 dividend on an annualized basis and a yield of 3.80%. Hewlett Packard Enterprise’s payout ratio is presently 25.37%.

Insider Buying and Selling at Hewlett Packard Enterprise

In related news, SVP Jeremy Cox sold 11,577 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $23.00, for a total value of $266,271.00. Following the sale, the senior vice president now directly owns 48,615 shares in the company, valued at $1,118,145. This trade represents a 19.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Hedge funds have recently bought and sold shares of the company. Putney Financial Group LLC bought a new position in Hewlett Packard Enterprise during the fourth quarter worth about $25,000. Hara Capital LLC bought a new position in shares of Hewlett Packard Enterprise during the 4th quarter valued at about $28,000. Ameriflex Group Inc. acquired a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at approximately $31,000. Tandem Financial LLC acquired a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at approximately $32,000. Finally, Elequin Capital LP bought a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $37,000. 80.78% of the stock is currently owned by institutional investors and hedge funds.

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.