190,275 Shares in TotalEnergies SE Sponsored ADR $TTE Purchased by HITE Hedge Asset Management LLC

Key Points

• HITE Hedge Asset Management LLC acquired 190,275 shares of TotalEnergies SE Sponsored ADR, valued at approximately $12.3 million, indicating strong institutional interest in the company.
• TotalEnergies reported earnings of $1.57 per share for the latest quarter, falling short of analysts' expectations of $1.62, while also revealing revenue of $44.68 billion that exceeded estimates.
• Recent analysts' upgrades have enhanced TotalEnergies' outlook, with a consensus price target of $66.45 and multiple firms rating the stock as a "buy" or "outperform."

HITE Hedge Asset Management LLC purchased a new position in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 190,275 shares of the company's stock, valued at approximately $12,309,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE lifted its position in shares of TotalEnergies by 121.1% during the fourth quarter. Bank of America Corp DE now owns 7,648,225 shares of the company's stock worth $416,828,000 after purchasing an additional 4,189,652 shares during the last quarter. Federated Hermes Inc. lifted its holdings in TotalEnergies by 23.1% during the 1st quarter. Federated Hermes Inc. now owns 3,552,025 shares of the company's stock valued at $229,780,000 after buying an additional 665,620 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in TotalEnergies by 9.9% during the 1st quarter. Raymond James Financial Inc. now owns 3,146,792 shares of the company's stock valued at $203,566,000 after buying an additional 283,595 shares in the last quarter. Royal Bank of Canada boosted its position in TotalEnergies by 10.0% in the 4th quarter. Royal Bank of Canada now owns 2,917,438 shares of the company's stock valued at $159,000,000 after buying an additional 265,251 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in TotalEnergies by 8.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,859,047 shares of the company's stock worth $184,952,000 after acquiring an additional 210,566 shares in the last quarter. 16.53% of the stock is owned by institutional investors.

TotalEnergies Stock Up 1.2%

NYSE:TTE opened at $62.24 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. TotalEnergies SE Sponsored ADR has a twelve month low of $52.78 and a twelve month high of $70.50. The company has a market cap of $149.23 billion, a PE ratio of 11.30, a P/E/G ratio of 1.08 and a beta of 0.59. The company's 50 day moving average is $61.59 and its two-hundred day moving average is $60.44.

TotalEnergies (NYSE:TTE - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.57 earnings per share for the quarter, missing analysts' consensus estimates of $1.62 by ($0.05). TotalEnergies had a net margin of 6.20% and a return on equity of 13.59%. The company had revenue of $44.68 billion for the quarter, compared to analysts' expectations of $42.44 billion. Analysts anticipate that TotalEnergies SE Sponsored ADR will post 8.02 EPS for the current year.

TotalEnergies Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, July 11th. Stockholders of record on Thursday, June 19th were issued a $0.7108 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a dividend yield of 454.0%. TotalEnergies's dividend payout ratio is currently 53.72%.

Analysts Set New Price Targets

Several research analysts recently issued reports on TTE shares. Sanford C. Bernstein raised TotalEnergies from a "market perform" rating to an "outperform" rating in a research note on Monday, June 16th. Morgan Stanley raised TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price target for the company in a research report on Monday, May 12th. Dbs Bank raised TotalEnergies from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. HSBC reiterated a "buy" rating on shares of TotalEnergies in a report on Tuesday, May 13th. Finally, Scotiabank set a $65.00 price target on shares of TotalEnergies and gave the company a "sector perform" rating in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.45.

TotalEnergies 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.

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