Baker Hughes Company $BKR Stock Position Increased by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions increased its Baker Hughes stake by 1,045.7% in the second quarter, bringing its holdings to 43,192 shares valued at approximately $2.4 million. Institutional investors and hedge funds collectively own 92.06% of BKR.
• Analysts maintain a favorable outlook, with 1 Strong Buy, 17 Buy, and 3 Hold ratings. Baker Hughes has an average “Moderate Buy” rating and a consensus price target of $71.81, above its reported trading price of $57.83.
• Baker Hughes exceeded quarterly expectations with adjusted EPS of $0.64 versus the $0.51 consensus and revenue of $6.74 billion. The company also pays a quarterly dividend of $0.23, equivalent to an annualized yield of approximately 1.6%.

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 1,045.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,192 shares of the company's stock after purchasing an additional 39,422 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Baker Hughes were worth $2,397,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cardano Risk Management B.V. increased its position in Baker Hughes by 1,005.1% during the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company's stock worth $2,247,550,000 after purchasing an additional 44,887,481 shares in the last quarter. Norges Bank purchased a new position in Baker Hughes in the 4th quarter valued at about $1,022,491,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Baker Hughes during the 4th quarter worth about $144,262,000. Amundi boosted its stake in shares of Baker Hughes by 28.2% during the 1st quarter. Amundi now owns 10,946,464 shares of the company's stock worth $668,282,000 after purchasing an additional 2,409,978 shares during the last quarter. Finally, MUFG Securities EMEA plc boosted its stake in shares of Baker Hughes by 283.8% during the 4th quarter. MUFG Securities EMEA plc now owns 2,375,463 shares of the company's stock worth $108,179,000 after purchasing an additional 1,756,593 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BKR has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Baker Hughes from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, July 13th. Royal Bank Of Canada raised their target price on shares of Baker Hughes from $71.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 25th. Piper Sandler lifted their target price on shares of Baker Hughes from $71.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Morgan Stanley began coverage on Baker Hughes in a report on Friday, August 7th. They issued an "overweight" rating and a $70.00 price target for the company. Finally, UBS Group boosted their price target on Baker Hughes from $70.00 to $72.00 and gave the company a "neutral" rating in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $71.81.

Baker Hughes Trading Up 0.9%

NASDAQ BKR opened at $57.83 on Friday. The company has a market cap of $57.41 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.58 and a beta of 0.96. Baker Hughes Company has a 12 month low of $43.92 and a 12 month high of $70.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. The company has a 50-day moving average of $60.78 and a 200-day moving average of $61.16.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.13. The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. As a group, equities analysts predict that Baker Hughes Company will post 2.53 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a $0.23 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Baker Hughes's dividend payout ratio (DPR) is presently 29.68%.

Baker Hughes Profile

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides products, services and digital solutions for the energy and industrial sectors. Its offerings support the exploration, development, production, transportation and processing of oil and natural gas, as well as broader energy and industrial operations.

The company's portfolio includes oilfield services and equipment, drilling and completion technologies, artificial lift systems, subsea production solutions, turbomachinery, compressors, gas technology and liquefied natural gas equipment.

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