TechnipFMC plc (NYSE:FTI) Declares Quarterly Dividend of $0.05

TechnipFMC plc (NYSE:FTI) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Investors of record on Tuesday, November 21st will be given a dividend of 0.05 per share by the oil and gas company on Wednesday, December 6th. This represents a $0.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Monday, November 20th.

TechnipFMC has a dividend payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect TechnipFMC to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 18.2%.

TechnipFMC Trading Up 2.4 %

NYSE:FTI opened at $20.63 on Friday. TechnipFMC has a 52 week low of $11.09 and a 52 week high of $22.78. The firm has a 50 day moving average of $20.79 and a 200 day moving average of $17.99. The company has a quick ratio of 0.93, a current ratio of 1.19 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of -257.88 and a beta of 1.73.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 26th. The oil and gas company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. TechnipFMC had a negative net margin of 0.46% and a positive return on equity of 3.70%. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the company posted $0.03 earnings per share. TechnipFMC’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that TechnipFMC will post 0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FTI has been the subject of a number of research analyst reports. Barclays raised their price target on shares of TechnipFMC from $24.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. StockNews.com initiated coverage on shares of TechnipFMC in a report on Thursday, October 5th. They issued a “hold” rating for the company. Kepler Capital Markets cut shares of TechnipFMC from a “buy” rating to a “hold” rating and raised their price target for the stock from $19.00 to $19.50 in a report on Tuesday, August 1st. BTIG Research raised their price target on shares of TechnipFMC from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 20th. Finally, BNP Paribas cut shares of TechnipFMC from an “outperform” rating to a “neutral” rating and set a $23.50 price target for the company. in a report on Monday, November 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.71.

TechnipFMC announced that its board has approved a share buyback plan on Wednesday, July 26th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. grew its position in TechnipFMC by 366.7% during the third quarter. Harbour Investments Inc. now owns 1,400 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 1,100 shares during the period. Tudor Investment Corp Et Al grew its position in TechnipFMC by 360.4% during the third quarter. Tudor Investment Corp Et Al now owns 29,424 shares of the oil and gas company’s stock valued at $598,000 after buying an additional 40,724 shares during the period. Morgan Stanley grew its position in shares of TechnipFMC by 47.8% in the third quarter. Morgan Stanley now owns 1,802,742 shares of the oil and gas company’s stock valued at $36,668,000 after purchasing an additional 583,413 shares during the period. Sei Investments Co. grew its position in shares of TechnipFMC by 21.4% in the third quarter. Sei Investments Co. now owns 542,229 shares of the oil and gas company’s stock valued at $11,029,000 after purchasing an additional 95,580 shares during the period. Finally, Legal & General Group Plc grew its position in shares of TechnipFMC by 5.5% in the third quarter. Legal & General Group Plc now owns 935,249 shares of the oil and gas company’s stock valued at $19,023,000 after purchasing an additional 48,918 shares during the period. Institutional investors and hedge funds own 98.79% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.