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

Hewlett Packard Enterprise (NYSE:HPE) declared a quarterly dividend on Thursday, March 6th, RTT News reports. Investors of record on Friday, March 21st will be paid a dividend of 0.13 per share by the technology company on Friday, April 18th. This represents a $0.52 annualized dividend and a yield of 2.91%.

Hewlett Packard Enterprise has raised its dividend by an average of 2.7% annually over the last three years. Hewlett Packard Enterprise has a payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

Shares of HPE stock opened at $17.90 on Friday. The firm has a market cap of $23.50 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 2.03 and a beta of 1.19. The company’s 50 day moving average is $21.58 and its 200 day moving average is $20.73. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. Hewlett Packard Enterprise has a 52-week low of $14.09 and a 52-week high of $24.66.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup raised shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $23.00 to $26.00 in a report on Friday, December 6th. StockNews.com lowered shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Morgan Stanley raised shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $23.00 to $28.00 in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Thursday, December 19th. Finally, Loop Capital lifted their price target on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Activity at Hewlett Packard Enterprise

In related news, Director Gary M. Reiner sold 50,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.47, for a total transaction of $1,173,500.00. Following the completion of the transaction, the director now directly owns 104,192 shares in the company, valued at $2,445,386.24. The trade was a 32.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jeremy Cox sold 11,577 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $23.00, for a total transaction of $266,271.00. Following the transaction, the senior vice president now owns 48,615 shares of the company’s stock, valued at $1,118,145. This represents a 19.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 324,395 shares of company stock worth $7,121,896 over the last three months. Company 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.