Bank of New York Mellon Corp Acquires 881,889 Shares of TotalEnergies SE Sponsored ADR $TTE

Key Points

• Bank of New York Mellon increased its stake in TotalEnergies by 8.3% in the first quarter, adding 881,889 shares and bringing its total holding to 11.5 million shares valued at about $1.05 billion.
• TotalEnergies reported better-than-expected first-quarter earnings, posting $2.45 EPS versus the $2.22 consensus estimate and revenue of $49.52 billion, also above analyst forecasts.
• Analysts remain generally positive on the stock, with a consensus rating of Moderate Buy and an average price target of $84.33, even as the shares traded slightly lower on the day.

Bank of New York Mellon Corp increased its holdings in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,514,654 shares of the company's stock after acquiring an additional 881,889 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of TotalEnergies worth $1,047,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in TTE. Sigma Planning Corp raised its holdings in TotalEnergies by 2.3% in the 1st quarter. Sigma Planning Corp now owns 7,577 shares of the company's stock worth $690,000 after purchasing an additional 169 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in TotalEnergies by 17.5% in the first quarter. Maryland State Retirement & Pension System now owns 326,985 shares of the company's stock worth $30,599,000 after buying an additional 48,698 shares during the period. Retirement Planning Group LLC purchased a new stake in TotalEnergies in the first quarter worth about $212,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in TotalEnergies by 34.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,252 shares of the company's stock valued at $387,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC bought a new stake in TotalEnergies during the 1st quarter valued at approximately $307,000. Institutional investors own 16.53% of the company's stock.

TotalEnergies Stock Down 0.8%

Shares of NYSE:TTE opened at $80.27 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $85.04 and a two-hundred day simple moving average of $81.39. TotalEnergies SE Sponsored ADR has a 12-month low of $57.39 and a 12-month high of $94.17. The stock has a market capitalization of $192.45 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 2.87 and a beta of 0.14.

TotalEnergies (NYSE:TTE - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.23. The firm had revenue of $49.52 billion for the quarter, compared to analysts' expectations of $44.58 billion. TotalEnergies had a return on equity of 14.01% and a net margin of 7.43%. On average, research analysts anticipate that TotalEnergies SE Sponsored ADR will post 10.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TTE shares. Kepler Capital Markets upgraded TotalEnergies from a "reduce" rating to a "hold" rating in a research note on Thursday, April 23rd. CICC Research began coverage on TotalEnergies in a report on Tuesday, June 23rd. They issued an "outperform" rating for the company. Scotiabank raised their price objective on TotalEnergies from $73.00 to $97.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Wall Street Zen cut shares of TotalEnergies from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of TotalEnergies in a research report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.33.

About TotalEnergies

TotalEnergies SE NYSE: TTE is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.

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