1832 Asset Management L.P. Reduces Stock Holdings in TotalEnergies SE (NYSE:TTE)

1832 Asset Management L.P. lessened its stake in shares of TotalEnergies SE (NYSE:TTE) by 19.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,772 shares of the company’s stock after selling 29,770 shares during the quarter. 1832 Asset Management L.P.’s holdings in TotalEnergies were worth $8,519,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TTE. Key Financial Inc lifted its position in TotalEnergies by 139.0% in the fourth quarter. Key Financial Inc now owns 380 shares of the company’s stock valued at $26,000 after acquiring an additional 221 shares during the last quarter. North Star Investment Management Corp. lifted its stake in TotalEnergies by 310.0% in the first quarter. North Star Investment Management Corp. now owns 410 shares of the company’s stock valued at $28,000 after buying an additional 310 shares during the last quarter. Evolution Advisers Inc. purchased a new position in shares of TotalEnergies during the fourth quarter worth approximately $29,000. Frazier Financial Advisors LLC acquired a new position in shares of TotalEnergies in the 4th quarter valued at $30,000. Finally, Tower Research Capital LLC TRC acquired a new position in TotalEnergies in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 13.22% of the company’s stock.

TotalEnergies Price Performance

TTE stock traded up $0.22 during midday trading on Friday, hitting $67.85. 696,878 shares of the stock were exchanged, compared to its average volume of 1,114,663. TotalEnergies SE has a fifty-two week low of $57.97 and a fifty-two week high of $74.97. The stock has a market cap of $160.22 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 1.67 and a beta of 0.64. The stock’s 50-day moving average price is $68.99 and its 200-day moving average price is $68.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.09.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.13). The business had revenue of $53.74 billion during the quarter, compared to analyst estimates of $60.45 billion. TotalEnergies had a net margin of 9.49% and a return on equity of 17.93%. During the same quarter last year, the firm posted $1.99 earnings per share. Research analysts predict that TotalEnergies SE will post 9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TTE. Piper Sandler increased their price objective on TotalEnergies from $75.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Wolfe Research assumed coverage on shares of TotalEnergies in a report on Thursday, July 18th. They issued an “outperform” rating and a $87.00 target price on the stock. Finally, Scotiabank dropped their price target on shares of TotalEnergies from $86.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.00.

TotalEnergies Company Profile

TotalEnergies SE, a multi-energy company, produces and markets oil and biofuels, natural gas, green gases, renewables, and electricity in France, rest of Europe, North America, Africa, and internationally. It operates through five segments: Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals, and Marketing & Services.