TD Waterhouse Canada Inc. Raises Holdings in Baker Hughes Company $BKR

TD Waterhouse Canada Inc. lifted its position in Baker Hughes Company (NASDAQ:BKR) by 4,382.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,923 shares of the company’s stock after purchasing an additional 11,657 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Baker Hughes were worth $576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Baker Hughes in the second quarter worth $36,000. Harbour Investments Inc. raised its stake in Baker Hughes by 61.7% during the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after purchasing an additional 326 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new position in Baker Hughes during the second quarter valued at $36,000. Finally, Spire Wealth Management grew its stake in shares of Baker Hughes by 357.8% in the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after buying an additional 798 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BKR has been the topic of several recent research reports. Zephirin Group upped their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Baker Hughes in a research note on Thursday, January 15th. UBS Group raised their price objective on Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Industrial Alliance Securities set a $60.00 price target on Baker Hughes in a report on Tuesday, January 27th. Finally, Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Saturday. Twenty research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.30.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $56.45 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average is $49.42 and its two-hundred day moving average is $47.32. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $58.50. The company has a market capitalization of $55.70 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Sunday, January 25th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.51%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. As a group, analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.