10 Best Energy Dividend Stocks To Buy Right Now

8. Baker Hughes Company (NASDAQ:BKR)

Number of Hedge Fund Holders: 45

Baker Hughes Company (NASDAQ:BKR) provides oilfield services, products, technology, and systems to the global oil and natural gas sector. With four decades of experience in the LNG industry, the company is well-positioned to capitalize on the growing LNG infrastructure in the US. Recently, the company secured an order from Bechtel Energy to provide gas technology equipment for two liquefaction plants as part of the initial phase of Woodside Energy Group Ltd’s Louisiana LNG development project. In the past 12 months, the stock has surged by over 57%.

Baker Hughes Company (NASDAQ:BKR) reported strong earnings in the fourth quarter of 2024. The company posted revenue of $7.4 billion, which showed an 8% growth from the same period last year. IET secured $3.8 billion in orders during the quarter, driven by robust LNG demand and an additional gas infrastructure contract. With this strong finish to the year, total orders for 2024 reached $13 billion, marking the second-highest annual order volume in the company’s history. This performance underscores the company’s diversified end markets and the adaptability of its portfolio.

Baker Hughes Company (NASDAQ:BKR)’s cash position also remained stable. The company reported an operating cash flow of nearly $1.2 billion in Q4 and its free cash flow amounted to $894 million. On January 30, the company declared a 10% increase in its quarterly dividend to $0.23 per share. This marked the company’s fourth consecutive year of dividend growth, which makes BKR one of the best dividend stocks from the energy sector. The stock supports a dividend yield of 1.99%, as of February 8.

The number of hedge funds tracked by Insider Monkey owning stakes in Baker Hughes Company (NASDAQ:BKR) grew to 45 in Q3 2024, from 41 in the previous quarter. These stakes are collectively valued at over $1.2 billion. Among these hedge funds, AQR Capital Management was the company’s leading stakeholder in Q3.