NewEdge Wealth LLC Lowers Stake in TotalEnergies SE (NYSE:TTE)

NewEdge Wealth LLC cut its position in shares of TotalEnergies SE (NYSE:TTE) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,023 shares of the company’s stock after selling 2,480 shares during the quarter. NewEdge Wealth LLC’s holdings in TotalEnergies were worth $1,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. FSA Wealth Management LLC purchased a new stake in shares of TotalEnergies during the third quarter worth about $26,000. Continuum Advisory LLC grew its holdings in TotalEnergies by 70.4% in the third quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the period. Asset Planning Inc purchased a new stake in TotalEnergies in the fourth quarter valued at approximately $31,000. HHM Wealth Advisors LLC grew its holdings in TotalEnergies by 156.3% in the fourth quarter. HHM Wealth Advisors LLC now owns 656 shares of the company’s stock valued at $36,000 after purchasing an additional 400 shares during the period. Finally, Versant Capital Management Inc purchased a new stake in TotalEnergies in the fourth quarter valued at approximately $45,000. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

TotalEnergies Price Performance

TTE opened at $60.17 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. TotalEnergies SE has a 52-week low of $53.29 and a 52-week high of $74.97. The company has a 50 day moving average of $58.37 and a two-hundred day moving average of $61.91. The company has a market cap of $144.27 billion, a P/E ratio of 9.03, a P/E/G ratio of 0.98 and a beta of 0.61.

TotalEnergies (NYSE:TTE) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.16. TotalEnergies had a net margin of 7.34% and a return on equity of 15.22%. On average, analysts expect that TotalEnergies SE will post 8.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TTE shares. Piper Sandler lowered their target price on shares of TotalEnergies from $77.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Redburn Atlantic upgraded shares of TotalEnergies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. BNP Paribas downgraded shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 27th. Morgan Stanley restated an “equal weight” rating and issued a $64.10 target price (down from $70.40) on shares of TotalEnergies in a report on Tuesday, January 7th. Finally, Royal Bank of Canada upgraded shares of TotalEnergies from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.42.

About TotalEnergies

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.