Allspring Global Investments Holdings LLC Acquires 236,366 Shares of TotalEnergies SE Sponsored ADR $TTE

Key Points

• Allspring Global Investments increased its TotalEnergies stake by 45.7% in the third quarter, buying 236,366 shares and bringing its holdings to 753,492 shares, valued at about $64.1 million.
• TotalEnergies reported quarterly EPS of $4.03, beating the $3.84 analyst consensus, and revenue of $61.86 billion versus a $55.39 billion estimate.
• Analysts have a “Moderate Buy” consensus rating on TTE, with an average price target of $96; shares opened at $87.79 in the article’s reported session.

Allspring Global Investments Holdings LLC increased its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 45.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 753,492 shares of the company's stock after purchasing an additional 236,366 shares during the period. Allspring Global Investments Holdings LLC's holdings in TotalEnergies were worth $64,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTE. BIP Wealth LLC grew its holdings in TotalEnergies by 4.0% during the 3rd quarter. BIP Wealth LLC now owns 2,896 shares of the company's stock valued at $248,000 after buying an additional 111 shares during the last quarter. Visionary Horizons LLC boosted its stake in shares of TotalEnergies by 3.4% during the third quarter. Visionary Horizons LLC now owns 3,396 shares of the company's stock valued at $290,000 after acquiring an additional 112 shares during the last quarter. Obermeyer Wealth Partners boosted its stake in shares of TotalEnergies by 0.6% during the third quarter. Obermeyer Wealth Partners now owns 20,591 shares of the company's stock valued at $1,765,000 after acquiring an additional 119 shares during the last quarter. Bryn Mawr Trust Advisors LLC increased its position in TotalEnergies by 3.6% during the 3rd quarter. Bryn Mawr Trust Advisors LLC now owns 3,768 shares of the company's stock worth $322,000 after purchasing an additional 132 shares in the last quarter. Finally, Crumly & Associates Inc. increased its position in TotalEnergies by 1.6% during the 3rd quarter. Crumly & Associates Inc. now owns 9,206 shares of the company's stock worth $787,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 16.53% of the company's stock.

TotalEnergies Price Performance

TTE stock opened at $87.79 on Wednesday. TotalEnergies SE Sponsored ADR has a 52-week low of $62.15 and a 52-week high of $95.78. The stock's fifty day simple moving average is $89.80 and its 200-day simple moving average is $85.87. The company has a quick ratio of 0.89, a current ratio of 1.11 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $210.49 billion, a price-to-earnings ratio of 8.08 and a beta of 0.14.

TotalEnergies (NYSE:TTE - Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The company reported $4.03 EPS for the quarter, beating analysts' consensus estimates of $3.84 by $0.19. The business had revenue of $61.86 billion during the quarter, compared to the consensus estimate of $55.39 billion. TotalEnergies had a return on equity of 19.08% and a net margin of 9.61%. Equities research analysts expect that TotalEnergies SE Sponsored ADR will post 12.94 EPS for the current year.

Analyst Ratings Changes

TTE has been the subject of several analyst reports. Mizuho set a $108.00 target price on shares of TotalEnergies in a research note on Friday, October 16th. Weiss Ratings raised shares of TotalEnergies from a "buy (b)" rating to a "buy (a-)" rating in a research note on Wednesday, November 4th. Barclays reiterated an "overweight" rating on shares of TotalEnergies in a report on Monday, October 5th. Morgan Stanley downgraded shares of TotalEnergies from an "overweight" rating to an "equal weight" rating and set a $90.00 price target for the company. in a report on Thursday, September 3rd. Finally, Zacks Research raised shares of TotalEnergies from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.00.

TotalEnergies Profile

TotalEnergies SE is a France-based integrated energy company with operations spanning the oil and natural gas value chain. Its activities include exploring for and producing hydrocarbons, processing and refining them, and supplying energy products to customers. The company also markets natural gas, including liquefied natural gas, and operates in electricity generation and renewable energy. Its portfolio includes solar and wind power, as well as energy storage and related services. Founded in 1924 as Compagnie française des pétroles, the company has expanded and evolved through acquisitions and business changes.

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