Edgestream Partners L.P. Acquires New Shares in Baker Hughes Company (NASDAQ:BKR)

Edgestream Partners L.P. acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 294,362 shares of the company's stock, valued at approximately $12,937,000. Baker Hughes makes up 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 14th biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in shares of Baker Hughes in the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its holdings in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after acquiring an additional 604 shares in the last quarter. Grove Bank & Trust boosted its holdings in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after acquiring an additional 320 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after acquiring an additional 465 shares in the last quarter. Finally, Tsfg LLC boosted its holdings in shares of Baker Hughes by 278.8% in the 1st quarter. Tsfg LLC now owns 1,485 shares of the company's stock worth $65,000 after acquiring an additional 1,093 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Trading Down 1.1%

Shares of Baker Hughes stock traded down $0.46 on Tuesday, hitting $39.42. 871,731 shares of the company's stock traded hands, compared to its average volume of 7,176,656. The firm's 50-day moving average price is $38.12 and its two-hundred day moving average price is $40.98. The stock has a market capitalization of $39.05 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 5.08 and a beta of 0.91. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. On average, research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Analyst Upgrades and Downgrades

BKR has been the topic of several research reports. Susquehanna reduced their price objective on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. TD Securities reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Royal Bank Of Canada reduced their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Citigroup reduced their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.50.

Baker Hughes Profile

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.