Badger Meter, Inc. (NYSE:BMI) announced a quarterly dividend on Friday, February 14th, RTT News reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.17 per share by the scientific and technical instruments company on Friday, March 13th. This represents a $0.68 annualized dividend and a dividend yield of 0.98%.
Badger Meter has increased its dividend payment by an average of 11.5% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. Badger Meter has a dividend payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Badger Meter to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 36.2%.
Shares of NYSE BMI traded up $0.33 during midday trading on Friday, hitting $69.05. The company’s stock had a trading volume of 5,935 shares, compared to its average volume of 189,140. The business’s 50 day moving average is $63.61 and its two-hundred day moving average is $58.28. Badger Meter has a 12-month low of $49.66 and a 12-month high of $68.75. The firm has a market cap of $1.97 billion, a P/E ratio of 42.66 and a beta of 0.86.
BMI has been the topic of several research reports. Robert W. Baird raised their price objective on Badger Meter from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Boenning Scattergood restated a “neutral” rating on shares of Badger Meter in a report on Wednesday, February 5th. Canaccord Genuity downgraded Badger Meter from a “hold” rating to a “sell” rating and set a $50.00 price objective on the stock. in a report on Thursday, January 2nd. ValuEngine downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Zacks Investment Research upgraded Badger Meter from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Badger Meter currently has a consensus rating of “Hold” and an average price target of $55.60.
About Badger Meter
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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