Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in Baker Hughes (NASDAQ:BKR) by 436.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,004,647 shares of the company’s stock after buying an additional 817,227 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Baker Hughes were worth $36,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BKR. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Baker Hughes in the 1st quarter valued at $34,000. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes in the 2nd quarter valued at $42,000. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes in the 2nd quarter valued at $48,000. Finally, Quarry LP raised its holdings in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after buying an additional 714 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the topic of several research analyst reports. BMO Capital Markets boosted their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Susquehanna upped their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Trading Up 0.2 %

BKR opened at $43.61 on Thursday. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The company has a market cap of $43.15 billion, a P/E ratio of 19.56, a PEG ratio of 0.73 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The business’s 50-day simple moving average is $39.09 and its 200-day simple moving average is $35.86.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. As a group, equities research analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.93%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

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.