Wealth Enhancement Advisory Services LLC Increases Stock Position in Baker Hughes (NASDAQ:BKR)

Wealth Enhancement Advisory Services LLC boosted its stake in Baker Hughes (NASDAQ:BKR) by 36.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,799 shares of the company’s stock after purchasing an additional 14,749 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Baker Hughes were worth $2,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BKR. JFS Wealth Advisors LLC raised its stake in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Baker Hughes during the fourth quarter valued at approximately $30,000. Larson Financial Group LLC grew its position in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after acquiring an additional 216 shares during the last quarter. Kestra Investment Management LLC bought a new position in Baker Hughes during the fourth quarter valued at approximately $45,000. Finally, OFI Invest Asset Management bought a new position in Baker Hughes during the fourth quarter valued at approximately $47,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BKR shares. Piper Sandler reduced their price target on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Barclays reduced their price target on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Morgan Stanley reduced their price target on shares of Baker Hughes from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Citigroup reduced their price target on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Susquehanna cut their target price on shares of Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.11.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $37.15 on Friday. The stock has a market cap of $36.81 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The firm’s fifty day simple moving average is $37.44 and its 200 day simple moving average is $41.61. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.48%. The ex-dividend date was Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is currently 31.40%.

Baker Hughes Company Profile

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.