TotalEnergies (NYSE:TTE) Stock Rating Lowered by JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded TotalEnergies from “overweight” to “neutral.” Despite mixed opinions, analysts overall rate the stock “Hold,” with a consensus price target of $88.50.
• TotalEnergies shares opened at $89.79, near their 52-week high of $94.17, with a market capitalization of $215.28 billion. The company reported quarterly revenue of $57.10 billion and earnings of $2.68 per share.
• Institutional ownership stands at 16.53%, with several major investors—including Norges Bank and Groupe la Francaise—recently establishing or increasing positions.

TotalEnergies (NYSE:TTE - Get Free Report) was downgraded by research analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research note issued on Wednesday, Briefing.com reports.

TTE has been the topic of a number of other research reports. CICC Research assumed coverage on TotalEnergies in a report on Tuesday, June 23rd. They issued an "outperform" rating on the stock. Morgan Stanley set a $90.00 price target on TotalEnergies and gave the stock an "equal weight" rating in a research note on Thursday, September 3rd. TD Cowen raised their price objective on TotalEnergies from $102.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Piper Sandler lifted their price objective on TotalEnergies from $84.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, September 3rd. Finally, Mizuho started coverage on TotalEnergies in a report on Monday, July 20th. They set an "outperform" rating and a $103.00 target price for the company. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, TotalEnergies presently has an average rating of "Hold" and a consensus target price of $88.50.

TotalEnergies Stock Performance

Shares of TTE stock opened at $89.79 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.06. The firm has a market capitalization of $215.28 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 3.06 and a beta of 0.13. TotalEnergies has a one year low of $57.39 and a one year high of $94.17. The company has a 50 day moving average price of $87.73 and a 200 day moving average price of $87.02.

TotalEnergies (NYSE:TTE - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $2.68 earnings per share for the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. The company had revenue of $57.10 billion for the quarter. Sell-side analysts anticipate that TotalEnergies will post 11.06 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Generali Investments CEE investicni spolecnost a.s. grew its position in shares of TotalEnergies by 16.9% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 153,140 shares of the company's stock worth $11,900,000 after buying an additional 22,103 shares in the last quarter. Flossbach Von Storch SE acquired a new stake in TotalEnergies in the second quarter valued at $30,877,000. Norges Bank bought a new position in TotalEnergies during the 4th quarter valued at $1,917,626,000. Plato Investment Management Ltd bought a new position in TotalEnergies during the 2nd quarter valued at $1,349,000. Finally, Groupe la Francaise grew its holdings in TotalEnergies by 8.9% during the 1st quarter. Groupe la Francaise now owns 7,617,900 shares of the company's stock worth $683,234,000 after acquiring an additional 624,764 shares in the last quarter. 16.53% of the stock is owned by hedge funds and other institutional investors.

TotalEnergies Company Profile

TotalEnergies SE NYSE: TTE is a French multinational energy company engaged in the production, processing and distribution of energy. Its operations span oil and natural gas exploration and production, liquefied natural gas, refining, petrochemicals, fuels, lubricants and other petroleum products.

The company is also expanding its electricity and renewable energy businesses, including solar and wind power, battery storage and electric-vehicle charging services. TotalEnergies serves customers across international markets through activities covering the energy supply chain, from upstream production to transportation, refining, marketing and power generation.

Founded in 1924 as Compagnie française des pétroles, the company operated under the Total name for many years before adopting the TotalEnergies name in 2021 to reflect its broader focus on multiple forms of energy.

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