Entropy Technologies LP Invests $575,000 in TechnipFMC plc (NYSE:FTI)

Entropy Technologies LP purchased a new position in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 21,932 shares of the oil and gas company’s stock, valued at approximately $575,000.

Several other large investors have also recently modified their holdings of FTI. Allspring Global Investments Holdings LLC raised its position in shares of TechnipFMC by 43.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 2,543 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in TechnipFMC in the 1st quarter worth about $205,000. Envestnet Portfolio Solutions Inc. purchased a new position in TechnipFMC in the 1st quarter worth about $236,000. Vanguard Group Inc. raised its position in TechnipFMC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock worth $1,005,652,000 after buying an additional 134,880 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in TechnipFMC in the 1st quarter worth about $965,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.9 %

Shares of NYSE:FTI opened at $28.49 on Friday. The stock has a 50 day moving average of $26.45 and a 200 day moving average of $26.34. The company has a market cap of $12.12 billion, a PE ratio of 18.74 and a beta of 1.51. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $29.85.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. As a group, equities research analysts expect that TechnipFMC plc will post 1.47 EPS for the current year.

TechnipFMC declared that its board has authorized a stock buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.70%. TechnipFMC’s payout ratio is 13.16%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FTI shares. Citigroup boosted their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, October 29th. Barclays boosted their price target on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $33.60.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. 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.