Premier Path Wealth Partners LLC Makes New Investment in Baker Hughes (NASDAQ:BKR)

Premier Path Wealth Partners LLC purchased a new position in Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,909 shares of the company’s stock, valued at approximately $242,000.

Several other large investors also recently added to or reduced their stakes in BKR. Bridges Investment Management Inc. bought a new stake in shares of Baker Hughes in the 2nd quarter worth about $314,000. AE Wealth Management LLC bought a new stake in Baker Hughes in the second quarter worth about $208,000. Pacer Advisors Inc. boosted its position in shares of Baker Hughes by 2.7% during the second quarter. Pacer Advisors Inc. now owns 140,111 shares of the company’s stock valued at $4,928,000 after buying an additional 3,740 shares during the period. Sei Investments Co. grew its stake in shares of Baker Hughes by 6.3% during the second quarter. Sei Investments Co. now owns 1,223,571 shares of the company’s stock valued at $43,033,000 after buying an additional 73,013 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Baker Hughes in the second quarter worth approximately $288,000. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Up 0.5 %

NASDAQ:BKR opened at $46.54 on Monday. The company’s 50-day simple moving average is $42.74 and its 200-day simple moving average is $38.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $47.47. The stock has a market capitalization of $46.05 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.79 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. On average, equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.80%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 37.67%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank of Canada upped their price objective on Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. BMO Capital Markets boosted their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler initiated coverage on Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price target for the company. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $47.53.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.