Energy Income Partners LLC bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 208,938 shares of the oil and gas company's stock, valued at approximately $13,853,000. Energy Income Partners LLC owned 0.05% of TechnipFMC as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Focus Partners Wealth boosted its stake in shares of TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock valued at $764,000 after buying an additional 5,161 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock worth $508,000 after purchasing an additional 6,381 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of TechnipFMC by 132.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company's stock worth $188,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Ossiam grew its stake in shares of TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 546 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.
TechnipFMC Stock Performance
NYSE:FTI opened at $78.39 on Wednesday. The firm's fifty day simple moving average is $70.72 and its 200-day simple moving average is $68.84. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The stock 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. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $80.42.
TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share 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 for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts expect that TechnipFMC plc will post 3.08 earnings per share for the current fiscal year.
TechnipFMC Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC's payout ratio is presently 6.94%.
Analyst Ratings Changes
A number of research firms have weighed in on FTI. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Susquehanna dropped their price objective on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. The Goldman Sachs Group reissued a "buy" rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and an average target price of $69.64.
Check Out Our Latest Report on FTI
Insiders Place Their Bets
In other news, Director Eric D. Mullins purchased 6,365 shares of the company's stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.40% of the company's stock.
About TechnipFMC
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Free Report)
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.
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