Concorde Asset Management LLC Purchases New Holdings in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Concorde Asset Management LLC acquired 4,670 shares of TotalEnergies SE, valued at approximately $302,000, marking a new position for the institutional investor.
• TotalEnergies' stock is currently down 1.4%, with a market capitalization of $147.92 billion and a P/E ratio of 11.20.
• The company reported earnings of $1.57 per share for the last quarter, missing analyst estimates, despite having a revenue of $44.68 billion, surpassing expectations.

Concorde Asset Management LLC acquired a new stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,670 shares of the company's stock, valued at approximately $302,000.

Other hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. boosted its holdings in TotalEnergies by 65.8% in the 1st quarter. Financial Management Professionals Inc. now owns 484 shares of the company's stock worth $31,000 after buying an additional 192 shares during the period. Bernard Wealth Management Corp. bought a new position in TotalEnergies in the 4th quarter worth $32,000. Inlight Wealth Management LLC bought a new position in TotalEnergies in the 1st quarter worth $32,000. Costello Asset Management INC bought a new position in TotalEnergies in the 1st quarter worth $32,000. Finally, SouthState Corp boosted its holdings in TotalEnergies by 126.1% in the 1st quarter. SouthState Corp now owns 572 shares of the company's stock worth $37,000 after buying an additional 319 shares during the period. Institutional investors own 16.53% of the company's stock.

TotalEnergies Price Performance

Shares of NYSE TTE traded down $0.55 during mid-day trading on Friday, hitting $60.99. 1,570,467 shares of the company's stock traded hands, compared to its average volume of 1,218,954. The company's 50-day moving average is $61.73 and its two-hundred day moving average is $60.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 0.81. The company has a market capitalization of $146.24 billion, a P/E ratio of 11.07, a PEG ratio of 1.04 and a beta of 0.59. TotalEnergies SE Sponsored ADR has a 1 year low of $52.78 and a 1 year high of $69.81.

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

TotalEnergies Cuts Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on TTE shares. Scotiabank set a $65.00 target price on shares of TotalEnergies and gave the stock a "sector perform" rating in a report on Friday, July 11th. HSBC reaffirmed a "buy" rating on shares of TotalEnergies in a report on Tuesday, May 13th. Piper Sandler boosted their price target on shares of TotalEnergies from $66.00 to $68.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Sanford C. Bernstein upgraded shares of TotalEnergies from a "market perform" rating to an "outperform" rating in a research note on Monday, June 16th. Finally, Morgan Stanley upgraded shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price target on the stock in a research note on Monday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $66.95.

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.