Sagespring Wealth Partners LLC Acquires 1,365 Shares of Baker Hughes Company (NASDAQ:BKR)

Sagespring Wealth Partners LLC raised its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,117 shares of the company’s stock after purchasing an additional 1,365 shares during the period. Sagespring Wealth Partners LLC’s holdings in Baker Hughes were worth $620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BKR. Principal Securities Inc. boosted its holdings in Baker Hughes by 336.5% in the fourth quarter. Principal Securities Inc. now owns 15,577 shares of the company’s stock valued at $639,000 after acquiring an additional 12,008 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Baker Hughes during the 4th quarter valued at about $640,000. JFS Wealth Advisors LLC boosted its stake in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Baker Hughes by 3.2% during the fourth quarter. CIBC Asset Management Inc now owns 318,401 shares of the company’s stock valued at $13,061,000 after buying an additional 9,764 shares during the period. Finally, Empower Advisory Group LLC raised its stake in Baker Hughes by 1.9% in the fourth quarter. Empower Advisory Group LLC now owns 2,110,969 shares of the company’s stock worth $86,592,000 after buying an additional 39,793 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.6%

Shares of NASDAQ BKR opened at $39.60 on Wednesday. The firm’s 50 day moving average price is $37.44 and its 200-day moving average price is $41.31. Baker Hughes Company has a 52-week low of $32.01 and a 52-week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34. The company has a market cap of $39.23 billion, a PE ratio of 13.52, a P/E/G ratio of 4.14 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. On average, equities research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Tuesday, May 6th. Baker Hughes’s dividend payout ratio is currently 31.40%.

Analyst Ratings Changes

Several research firms have weighed in on BKR. Susquehanna cut their price objective on Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Thursday, April 24th. Evercore ISI lowered their target price on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Citigroup dropped their price target on Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler reduced their price target on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Barclays lowered their price objective on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

About Baker Hughes

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.