Baker Hughes (NASDAQ:BKR) to Issue Quarterly Dividend of $0.23

Baker Hughes (NASDAQ:BKR) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Stockholders of record on Tuesday, February 11th will be given a dividend of 0.23 per share on Friday, February 21st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21.

Baker Hughes has raised its dividend payment by an average of 5.3% per year over the last three years. Baker Hughes has a dividend payout ratio of 28.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Baker Hughes to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 32.9%.

Baker Hughes Trading Up 3.5 %

Shares of NASDAQ:BKR opened at $46.18 on Friday. The stock’s 50-day simple moving average is $43.00 and its two-hundred day simple moving average is $39.00. The stock has a market capitalization of $45.70 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.83 and a beta of 1.39. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $47.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BKR. TD Cowen reduced their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company increased their target price on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Royal Bank of Canada boosted their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Citigroup increased their price target on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Susquehanna boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.06.

Baker Hughes Company 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.