TotalEnergies (NYSE:TTE) Trading Up 3.1% – Here’s What Happened

TotalEnergies SE (NYSE:TTE) shares rose 3.1% during trading on Wednesday . The company traded as high as $65.54 and last traded at $65.49. Approximately 504,550 shares changed hands during trading, a decline of 69% from the average daily volume of 1,645,889 shares. The stock had previously closed at $63.52.

Wall Street Analysts Forecast Growth

TTE has been the topic of a number of recent analyst reports. BNP Paribas cut shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 27th. Citigroup raised shares of TotalEnergies from a “neutral” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada upgraded shares of TotalEnergies from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 5th. Redburn Atlantic upgraded TotalEnergies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler lowered their price target on TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.42.

TotalEnergies Price Performance

The company has a fifty day simple moving average of $60.60 and a 200-day simple moving average of $61.10. The company has a market cap of $156.53 billion, a P/E ratio of 9.82, a PEG ratio of 0.98 and a beta of 0.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.88.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in shares of TotalEnergies in the third quarter worth approximately $26,000. Continuum Advisory LLC boosted its stake in TotalEnergies by 70.4% in the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the period. Asset Planning Inc purchased a new position in TotalEnergies during the 4th quarter worth approximately $31,000. Bernard Wealth Management Corp. acquired a new stake in TotalEnergies during the 4th quarter valued at $32,000. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of 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 in the last quarter. 16.53% of the stock is currently owned by institutional investors and hedge funds.

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.