TotalEnergies (NYSE:TTE) Downgraded by BNP Paribas to Neutral

BNP Paribas cut shares of TotalEnergies (NYSE:TTE) from an outperform rating to a neutral rating in a report published on Wednesday, MarketBeat reports.

Other research analysts also recently issued research reports about the stock. Scotiabank decreased their price objective on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. UBS Group raised TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 9th. Barclays raised TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a research report on Thursday, October 3rd. Finally, TD Cowen cut shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.75.

TotalEnergies Price Performance

Shares of NYSE TTE opened at $57.16 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.10 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $64.41 and its 200-day simple moving average is $67.21. TotalEnergies has a 12 month low of $56.69 and a 12 month high of $74.97. The stock has a market capitalization of $134.97 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.89 and a beta of 0.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of TotalEnergies in the first quarter worth about $710,000. Tidal Investments LLC lifted its stake in TotalEnergies by 1.2% in the 1st quarter. Tidal Investments LLC now owns 63,095 shares of the company’s stock worth $4,343,000 after purchasing an additional 756 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of TotalEnergies during the 1st quarter worth approximately $38,000. Cetera Investment Advisers grew its position in shares of TotalEnergies by 105.0% in the first quarter. Cetera Investment Advisers now owns 215,737 shares of the company’s stock valued at $14,849,000 after purchasing an additional 110,497 shares in the last quarter. Finally, Cetera Advisors LLC increased its holdings in shares of TotalEnergies by 410.4% in the first quarter. Cetera Advisors LLC now owns 88,328 shares of the company’s stock valued at $6,080,000 after purchasing an additional 71,023 shares during the last quarter. Hedge funds and other institutional investors own 13.22% of the company’s stock.

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.