Baker Hughes Plans Quarterly Dividend of $0.21 (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKR) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Stockholders of record on Monday, May 6th will be paid a dividend of 0.21 per share on Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, May 3rd.

Baker Hughes has raised its dividend by an average of 2.7% annually over the last three years and has increased its dividend every year for the last 3 years. Baker Hughes has a dividend payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Baker Hughes to earn $2.62 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 32.1%.

Baker Hughes Trading Down 2.2 %

Shares of NASDAQ:BKR opened at $31.89 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The business has a 50 day moving average of $32.25 and a two-hundred day moving average of $32.48. The company has a market capitalization of $31.92 billion, a PE ratio of 17.82, a PEG ratio of 0.56 and a beta of 1.44.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Baker Hughes will post 2.08 EPS for the current year.

Analysts Set New Price Targets

BKR has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. TD Cowen lifted their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. UBS Group raised their price objective on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group upped their target price on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

Insiders Place Their Bets

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

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.