Ameriprise Financial Inc. Reduces Position in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Ameriprise Financial Inc. has reduced its holdings in TotalEnergies SE by 9.6%, selling 96,129 shares and retaining 902,487 shares valued at approximately $58.5 million.
• Several other institutional investors have increased their stakes in TotalEnergies, highlighting a general interest with Financial Management Professionals Inc. boosting its holdings by 65.8%.
• Analysts have positively rated TotalEnergies with multiple upgrades, including Sanford C. Bernstein raising its rating from "market perform" to "outperform," indicating a strong outlook for the company's stock.

Ameriprise Financial Inc. decreased its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 9.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 902,487 shares of the company's stock after selling 96,129 shares during the quarter. Ameriprise Financial Inc.'s holdings in TotalEnergies were worth $58,501,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Financial Management Professionals Inc. grew its holdings in shares of TotalEnergies by 65.8% during the first quarter. Financial Management Professionals Inc. now owns 484 shares of the company's stock worth $31,000 after buying an additional 192 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of TotalEnergies during the fourth quarter worth $32,000. Inlight Wealth Management LLC purchased a new stake in shares of TotalEnergies in the first quarter valued at about $32,000. Costello Asset Management INC purchased a new stake in shares of TotalEnergies in the first quarter valued at about $32,000. Finally, SouthState Corp grew its holdings in shares of TotalEnergies by 126.1% in the first quarter. SouthState Corp now owns 572 shares of the company's stock valued at $37,000 after purchasing an additional 319 shares during the period. Hedge funds and other institutional investors own 16.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TTE shares. Sanford C. Bernstein raised shares of TotalEnergies from a "market perform" rating to an "outperform" rating in a report on Monday, June 16th. Piper Sandler upped their price objective on shares of TotalEnergies from $66.00 to $68.00 and gave the company a "neutral" rating in a report on Monday, August 18th. HSBC reissued a "buy" rating on shares of TotalEnergies in a report on Tuesday, May 13th. Morgan Stanley raised shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price objective for the company in a report on Monday, May 12th. Finally, Dbs Bank raised shares of TotalEnergies from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.95.

TotalEnergies Stock Up 0.1%

Shares of TTE opened at $62.01 on Thursday. The stock has a market capitalization of $148.67 billion, a PE ratio of 11.25, a P/E/G ratio of 1.06 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. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.00. The company's 50-day simple moving average is $61.66 and its 200-day simple moving average is $60.60.

TotalEnergies (NYSE:TTE - Get Free Report) last issued its quarterly 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 analyst estimates of $42.44 billion. TotalEnergies had a return on equity of 13.59% and a net margin of 6.20%. Analysts forecast that TotalEnergies SE Sponsored ADR will post 8.02 earnings per share for the current fiscal year.

TotalEnergies Cuts Dividend

The firm also recently declared 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 of this dividend was Wednesday, June 18th. TotalEnergies's dividend payout ratio is currently 53.72%.

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.

Want to see what other hedge funds are holding TTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.