TechnipFMC PLC (FTI) to Issue $0.13 Quarterly Dividend
TechnipFMC PLC (NYSE:FTI) declared a quarterly dividend on Tuesday, July 24th, RTT News reports. Stockholders of record on Tuesday, August 21st will be paid a dividend of 0.13 per share by the oil and gas company on Wednesday, September 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, August 20th.
TechnipFMC has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect TechnipFMC to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 34.0%.
Shares of NYSE:FTI opened at $28.03 on Friday. The firm has a market cap of $14.00 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.29. TechnipFMC has a 1 year low of $24.53 and a 1 year high of $35.00.
In other news, Director John C. G. Oleary acquired 2,000 shares of TechnipFMC stock in a transaction that occurred on Friday, June 15th. The stock was bought at an average price of $27.53 per share, for a total transaction of $55,060.00. Following the completion of the transaction, the director now owns 12,455 shares in the company, valued at $342,886.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on FTI. Credit Suisse Group began coverage on TechnipFMC in a report on Tuesday, July 17th. They set an “outperform” rating and a $38.00 price target on the stock. Exane BNP Paribas began coverage on TechnipFMC in a report on Thursday, June 21st. They set an “underperform” rating on the stock. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Thursday. DNB Markets raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, May 11th. Finally, BNP Paribas downgraded TechnipFMC from a “neutral” rating to an “underperform” rating in a report on Thursday, June 21st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. TechnipFMC presently has an average rating of “Buy” and a consensus target price of $35.28.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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