Baker Hughes Company (NASDAQ:BKR) Declares Quarterly Dividend of $0.23

Baker Hughes Company (NASDAQ:BKR) announced a quarterly dividend on Thursday, February 5th. Investors of record on Tuesday, February 17th will be given a dividend of 0.23 per share on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, February 17th.

Baker Hughes has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Baker Hughes has a dividend payout ratio of 33.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Baker Hughes to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 30.8%.

Baker Hughes Stock Up 1.9%

Shares of BKR opened at $58.43 on Friday. Baker Hughes has a 52-week low of $33.60 and a 52-week high of $59.54. 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 has a fifty day simple moving average of $49.94 and a two-hundred day simple moving average of $47.60. The company has a market capitalization of $57.66 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. The firm had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.51%. Baker Hughes’s revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. As a group, equities analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup upped their price target on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Baker Hughes in a research report on Thursday, January 15th. Stifel Nicolaus upped their price target on Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group lifted their price objective on Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Saturday, January 31st. Finally, TD Cowen increased their target price on Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.30.

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.