Channel Wealth LLC Cuts Holdings in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Channel Wealth LLC cut its stake in TotalEnergies by 55.4% in the fourth quarter, selling 31,035 shares and leaving it with 24,964 shares valued at about $1.63 million.
• TotalEnergies reported strong quarterly results, posting $2.45 EPS versus the $2.22 consensus estimate and revenue of $49.52 billion, which also topped expectations.
• Analyst sentiment remains generally positive, with several firms raising ratings or price targets and MarketBeat citing a “Moderate Buy” consensus with an average target price of $80.97.

Channel Wealth LLC lessened its stake in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 55.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,964 shares of the company's stock after selling 31,035 shares during the period. Channel Wealth LLC's holdings in TotalEnergies were worth $1,633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTE. Vanguard Group Inc. purchased a new position in shares of TotalEnergies in the 4th quarter worth about $5,337,330,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of TotalEnergies by 21,398.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 40,380,511 shares of the company's stock worth $2,641,693,000 after purchasing an additional 40,192,677 shares in the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of TotalEnergies in the 4th quarter worth about $1,982,676,000. Bank of Italy purchased a new position in shares of TotalEnergies in the 4th quarter worth about $422,957,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TotalEnergies by 160,812,400.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,608,125 shares of the company's stock worth $104,991,000 after purchasing an additional 1,608,124 shares in the last quarter. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

TotalEnergies Stock Performance

NYSE:TTE opened at $88.55 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm's fifty day simple moving average is $87.25 and its 200 day simple moving average is $74.20. The stock has a market cap of $212.31 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 3.05 and a beta of 0.14. TotalEnergies SE Sponsored ADR has a twelve month low of $57.26 and a twelve month high of $93.67.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.22 by $0.23. The firm had revenue of $49.52 billion during the quarter, compared to analysts' expectations of $44.58 billion. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. As a group, research analysts predict that TotalEnergies SE Sponsored ADR will post 10.92 EPS for the current year.

Analyst Upgrades and Downgrades

TTE has been the subject of a number of research reports. Piper Sandler upped their price objective on shares of TotalEnergies from $74.00 to $92.00 and gave the company a "neutral" rating in a research note on Thursday, March 12th. TD Cowen reaffirmed a "buy" rating on shares of TotalEnergies in a research note on Monday, April 20th. JPMorgan Chase & Co. raised shares of TotalEnergies from a "neutral" rating to an "overweight" rating in a research note on Monday, March 2nd. Kepler Capital Markets raised shares of TotalEnergies from a "reduce" rating to a "hold" rating in a research note on Thursday, April 23rd. Finally, BNP Paribas Exane raised shares of TotalEnergies from a "neutral" rating to an "outperform" rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, TotalEnergies has an average rating of "Moderate Buy" and a consensus target price of $80.97.

TotalEnergies Company Profile

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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