Wealth Enhancement Advisory Services LLC Grows Stake in Baker Hughes Company $BKR

Wealth Enhancement Advisory Services LLC increased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,968 shares of the company’s stock after purchasing an additional 8,212 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Baker Hughes were worth $3,060,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BKR. AMG National Trust Bank increased its position in shares of Baker Hughes by 3.7% in the third quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock valued at $333,000 after buying an additional 246 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in Baker Hughes by 1.3% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 19,674 shares of the company’s stock valued at $959,000 after acquiring an additional 257 shares during the last quarter. Wealthcare Advisory Partners LLC grew its stake in Baker Hughes by 4.4% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 6,282 shares of the company’s stock valued at $306,000 after acquiring an additional 264 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Baker Hughes by 23.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock valued at $69,000 after acquiring an additional 270 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Baker Hughes by 4.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after acquiring an additional 275 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on BKR. Susquehanna increased their price target on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Thursday, January 15th. Evercore reissued an “outperform” rating and set a $68.00 price target on shares of Baker Hughes in a research report on Wednesday, February 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. Finally, UBS Group increased 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. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $59.61.

Insider Activity at Baker Hughes

In related news, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the transaction, the insider owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of Baker Hughes stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 590,251 shares of company stock valued at $35,311,023 in the last ninety days. 0.27% of the stock is owned by company insiders.

Baker Hughes Trading Up 0.6%

Shares of BKR opened at $61.03 on Wednesday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $67.00. The company has a market capitalization of $60.31 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.64 and a beta of 0.83. The stock has a fifty day moving average of $59.82 and a two-hundred day moving average of $52.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

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.