Baker Hughes Company (NASDAQ:BKR) shares are up on Wednesday as the company disclosed a significant order from Twenty20 Energy for gas turbines to support data center infrastructure.
This news comes as the broader market experienced gains, with the Energy sector leading the way, adding to the positive sentiment around Baker Hughes.
Major Gas Turbine Order
In particular, Baker Hughes received an order for 10 Frame 5 gas turbines, which will provide up to 250 MW of power generation capacity for Twenty20 Energy’s projects in Georgia and Texas.
The company expects Initial deliveries in 2027, marking a key step in a strategic collaboration aimed at delivering reliable power solutions for AI-driven data centers across the U.S.
The partnership highlights the growing demand for sustainable energy solutions, particularly in the context of increasing reliance on digital infrastructure.
Baker Hughes’ Chairman and CEO, Lorenzo Simonelli, emphasized the importance of this order in supporting growth in critical data center infrastructure, aligning with Twenty20 Energy’s focus on scalable power solutions.
The broader market experienced gains on the previous trading day, with the Energy sector rising 0.89%.
Baker Hughes’ stock is moving higher in line with this sector strength, indicating that the company’s developments resonate positively within the current market context.
BKR Shows Strong Technical Indicators
Baker Hughes is currently trading 8.5% above its 20-day simple moving average (SMA) and 18.5% above its 100-day SMA, demonstrating strong short-term and longer-term strength.
Shares have increased 25.56% over the past 12 months and are currently positioned closer to their 52-week highs than lows.
The RSI is at 69.45, which is considered neutral territory, while the MACD is above its signal line, indicating bullish momentum. The combination of neutral RSI and bullish MACD suggests mixed momentum for the stock.
- Key Resistance: $59.50
- Key Support: $55.00
Anticipation Builds for BKR’s Earnings Report
Investors are looking ahead to the next earnings report on April 21, 2026.
- EPS Estimate: 53 cents (Up from 51 cents YoY)
- Revenue Estimate: $6.43 billion (Down from $6.43 billion YoY)
- Valuation: P/E of 22.8x (Indicates fair valuation)
Analyst Consensus & Recent Actions:
The stock carries a Buy Rating with an average price forecast of $57.35. Recent analyst moves include:
- Stifel: Buy (Raises Target to $63.00) (February 2)
- Jefferies: Buy (Raises Target to $67.00) (February 2)
- Citigroup: Buy (Raises Target to $64.00) (January 28)
Valuation Insight: While the stock trades at a fair P/E multiple, the strong consensus and rising estimates suggest analysts view the growth prospects as justification for the current valuation.
BKR’s Strong Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for Baker Hughes, highlighting its strengths and weaknesses compared to the broader market:
– Value: 62.19 — The stock is fairly valued relative to peers.
– Growth: 91.73 — Indicates strong growth potential.
– Momentum: 82.43 — The stock is outperforming the broader market.
The Verdict: Baker Hughes’s Benzinga Edge signal reveals a strong growth outlook with solid momentum. The value score suggests that while the stock is fairly valued, its growth potential and momentum indicate a favorable investment opportunity.
ETFs Heavily Invested in BKR
- VanEck Oil Services ETF (NYSE:OIH): 12.49% Weight
- Nuveen ESG Mid-Cap Value ETF (BATS:NUMV): 2.04% Weight
- State Street SPDR S&P Oil & Gas Equipment & Services ETF (NYSE:XES): 4.70% Weight
BKR Price Action: Baker Hughes shares were up 2.92% at $60.00 at the time of publication on Wednesday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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