Energy Income Partners LLC Sells 36,132 Shares of TechnipFMC plc $FTI

Key Points

• Energy Income Partners reduced its TechnipFMC position by 15.1%, selling 36,132 shares and retaining 203,864 shares valued at approximately $14.1 million. Institutional investors collectively own 96.58% of FTI.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $69.64; several firms recently set or raised targets to $80.
• TechnipFMC reported quarterly EPS of $0.64, beating estimates of $0.57, while revenue rose 11.6% year over year to $2.49 billion. The stock opened at $74.95, near its 52-week high of $77.92.

Energy Income Partners LLC trimmed its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 15.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,864 shares of the oil and gas company's stock after selling 36,132 shares during the quarter. Energy Income Partners LLC owned 0.05% of TechnipFMC worth $14,093,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock valued at $751,567,000 after purchasing an additional 3,549,839 shares in the last quarter. State Street Corp lifted its stake in shares of TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock valued at $508,276,000 after buying an additional 4,938,498 shares in the last quarter. Invesco Ltd. grew its holdings in shares of TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company's stock valued at $502,284,000 after buying an additional 4,437,960 shares during the last quarter. Boston Partners grew its holdings in shares of TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company's stock valued at $389,018,000 after buying an additional 192,549 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of TechnipFMC by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company's stock worth $337,714,000 after acquiring an additional 193,244 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FTI shares. Piper Sandler upped their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. UBS Group set a $80.00 price objective on TechnipFMC in a research note on Wednesday, June 3rd. Royal Bank Of Canada raised their target price on TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Finally, Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus target price of $69.64.

TechnipFMC Stock Down 2.3%

TechnipFMC stock opened at $74.95 on Tuesday. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $77.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm's 50-day simple moving average is $69.56 and its 200 day simple moving average is $66.50. The stock has a market cap of $29.88 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.61 and a beta of 0.70.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business posted $0.33 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts predict that TechnipFMC plc will post 3.01 EPS for the current fiscal year.

TechnipFMC Profile

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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