Energy Income Partners LLC Buys New Stake in TechnipFMC plc $FTI

Energy Income Partners LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, HoldingsChannel reports. The fund bought 208,938 shares of the oil and gas company’s stock, valued at approximately $13,853,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. ANB Bank increased its position in TechnipFMC by 3.4% during the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock worth $339,000 after purchasing an additional 161 shares in the last quarter. PFG Investments LLC raised its position in shares of TechnipFMC by 2.4% in the first quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock valued at $495,000 after buying an additional 165 shares during the last quarter. Independent Advisor Alliance lifted its stake in shares of TechnipFMC by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after buying an additional 184 shares during the period. Evolve Private Wealth LLC lifted its stake in shares of TechnipFMC by 0.7% during the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock valued at $2,411,000 after buying an additional 227 shares during the period. Finally, Caerus Investment Advisors LLC boosted its position in TechnipFMC by 1.1% during the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company’s stock worth $1,661,000 after acquiring an additional 259 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

FTI stock opened at $78.39 on Wednesday. The company has a market cap of $30.74 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $70.72 and a two-hundred day moving average price of $68.84. TechnipFMC plc has a 12-month low of $34.27 and a 12-month high of $80.42.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, research analysts predict that TechnipFMC plc will post 3.08 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s payout ratio is 6.94%.

Insider Activity

In other news, Director Eric D. Mullins purchased 6,365 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the topic of several analyst reports. Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Evercore reaffirmed an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. Citigroup increased their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.