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

Baker Hughes Company (NASDAQ:BKR) announced a quarterly dividend on Thursday, February 5th. Shareholders 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 yield of 1.6%. The ex-dividend date of this dividend is Tuesday, February 17th.

Baker Hughes has increased its dividend payment by an average of 0.1%annually 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% indicating that 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 Trading Down 3.1%

NASDAQ BKR opened at $57.36 on Friday. Baker Hughes has a 12 month low of $33.60 and a 12 month high of $59.54. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average price is $49.94 and its 200-day moving average price is $47.60. The stock has a market cap of $56.60 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.59 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion for 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 quarter in the previous year, the business posted $0.70 EPS. As a group, equities analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BKR shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. Stifel Nicolaus upped their price target on Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a report on Monday. Barclays increased their price objective on Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Piper Sandler boosted their target price on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Finally, Evercore ISI set a $54.00 target price on shares of Baker Hughes in a research note on Monday, October 27th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.