Clearline Capital LP Takes Position in Hewlett Packard Enterprise (NYSE:HPE)

Clearline Capital LP bought a new stake in shares of Hewlett Packard Enterprise (NYSE:HPE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,200,050 shares of the technology company’s stock, valued at approximately $24,553,000. Hewlett Packard Enterprise makes up approximately 1.0% of Clearline Capital LP’s holdings, making the stock its 9th largest holding. Clearline Capital LP owned approximately 0.09% of Hewlett Packard Enterprise as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HPE. RPg Family Wealth Advisory LLC acquired a new position in shares of Hewlett Packard Enterprise during the third quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Hewlett Packard Enterprise in the third quarter worth $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Hewlett Packard Enterprise in the second quarter worth $28,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Hewlett Packard Enterprise by 571.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock worth $28,000 after buying an additional 1,143 shares during the period. Finally, Financial Management Professionals Inc. grew its holdings in shares of Hewlett Packard Enterprise by 80.3% during the third quarter. Financial Management Professionals Inc. now owns 1,430 shares of the technology company’s stock valued at $29,000 after buying an additional 637 shares during the last quarter. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Susquehanna reiterated a “neutral” rating and set a $20.00 price target on shares of Hewlett Packard Enterprise in a research note on Friday, October 11th. Raymond James raised Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $23.00 to $29.00 in a report on Monday, November 18th. Loop Capital increased their price target on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, September 9th. UBS Group upped their price objective on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Barclays raised shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $24.00 in a report on Wednesday, September 25th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.21.

Hewlett Packard Enterprise Stock Up 2.0 %

Shares of HPE opened at $21.22 on Monday. The firm has a market cap of $27.56 billion, a P/E ratio of 15.16, a PEG ratio of 3.32 and a beta of 1.19. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82. The stock’s 50 day moving average is $20.67 and its two-hundred day moving average is $19.77. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. Analysts predict that Hewlett Packard Enterprise will post 1.66 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.52 annualized dividend and a yield of 2.45%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 37.14%.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 29,000 shares of Hewlett Packard Enterprise stock in a transaction on Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the sale, the executive vice president now owns 82,061 shares of the company’s stock, valued at $1,395,037. The trade was a 26.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Antonio F. Neri sold 250,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.73, for a total transaction of $5,182,500.00. Following the completion of the sale, the chief executive officer now owns 1,508,641 shares of the company’s stock, valued at $31,274,127.93. This trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 426,012 shares of company stock worth $8,599,617. Corporate insiders own 0.40% of the company’s stock.

Hewlett Packard Enterprise Company 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.