On March 20, 2023, Goldman Sachs initiated coverage of Hewlett Packard Enterprise with a Neutral recommendation.
Analyst Price Forecast Suggests 23.82% Upside
As of March 20, 2023, the average one-year price target for Hewlett Packard Enterprise is $17.88. The forecasts range from a low of $14.14 to a high of $21.00. The average price target represents an increase of 23.82% from its latest reported closing price of $14.44.
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The projected annual revenue for Hewlett Packard Enterprise is $29,409MM, an increase of 0.22%. The projected annual non-GAAP EPS is $2.04.
Hewlett Packard Enterprise Declares $0.12 Dividend
On March 2, 2023 the company declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Shareholders of record as of March 17, 2023 will receive the payment on April 14, 2023. Previously, the company paid $0.12 per share.
At the current share price of $14.44 / share, the stock’s dividend yield is 3.32%. Looking back five years and taking a sample every week, the average dividend yield has been 3.40%, the lowest has been 1.67%, and the highest has been 6.13%. The standard deviation of yields is 0.76 (n=236).
The current dividend yield is 0.10 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.73. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What are Large Shareholders Doing?
Dodge & Cox holds 60,643K shares representing 4.68% ownership of the company. In it’s prior filing, the firm reported owning 64,414K shares, representing a decrease of 6.22%. The firm increased its portfolio allocation in HPE by 13.51% over the last quarter.
Bank Of America holds 52,717K shares representing 4.07% ownership of the company. In it’s prior filing, the firm reported owning 50,624K shares, representing an increase of 3.97%. The firm decreased its portfolio allocation in HPE by 99.87% over the last quarter.
DODGX – Dodge & Cox Stock Fund holds 43,160K shares representing 3.33% ownership of the company. In it’s prior filing, the firm reported owning 44,036K shares, representing a decrease of 2.03%. The firm increased its portfolio allocation in HPE by 17.04% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 39,091K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 39,045K shares, representing an increase of 0.12%. The firm increased its portfolio allocation in HPE by 23.17% over the last quarter.
Primecap Management holds 38,129K shares representing 2.94% ownership of the company. In it’s prior filing, the firm reported owning 47,306K shares, representing a decrease of 24.07%. The firm increased its portfolio allocation in HPE by 1.59% over the last quarter.
What is the Fund Sentiment?
There are 1598 funds or institutions reporting positions in Hewlett Packard Enterprise. This is an increase of 56 owner(s) or 3.63% in the last quarter. Average portfolio weight of all funds dedicated to HPE is 0.21%, an increase of 13.78%. Total shares owned by institutions increased in the last three months by 0.30% to 1,202,721K shares. The put/call ratio of HPE is 0.84, indicating a bullish outlook.
Hewlett Packard Enterprise Background Information
(This description is provided by the company.)
The Hewlett Packard Enterprise Company is an American multinational information technology company. It is a business-focused organization which works in servers, storage, networking, containerization software and consulting and support. Additionally, the company invests in communications and media solutions.
This article originally appeared on Fintel
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