Channel Wealth LLC Makes New $3.33 Million Investment in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Channel Wealth LLC has purchased a new stake in TotalEnergies SE, acquiring 54,154 shares valued at approximately $3,325,000 during the 2nd quarter.
• Other institutional investors, such as HighTower Advisors LLC and Banco Santander S.A., have also recently adjusted their positions, indicating strong institutional interest in the company.
• TotalEnergies reported a net margin of 6.20% and a revenue of $44.68 billion for the latest quarter, exceeding analyst expectations despite a slight miss on earnings per share.

Channel Wealth LLC bought a new position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 54,154 shares of the company's stock, valued at approximately $3,325,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mayflower Financial Advisors LLC grew its stake in shares of TotalEnergies by 1.2% in the 1st quarter. Mayflower Financial Advisors LLC now owns 14,646 shares of the company's stock valued at $947,000 after purchasing an additional 176 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in TotalEnergies by 1.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 9,814 shares of the company's stock valued at $635,000 after buying an additional 185 shares during the period. J2 Capital Management Inc grew its holdings in TotalEnergies by 3.3% during the first quarter. J2 Capital Management Inc now owns 5,954 shares of the company's stock valued at $385,000 after purchasing an additional 191 shares during the period. Financial Management Professionals Inc. raised its stake in TotalEnergies by 65.8% during 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. Finally, Ipswich Investment Management Co. Inc. increased its position in shares of TotalEnergies by 0.9% during the first quarter. Ipswich Investment Management Co. Inc. now owns 22,930 shares of the company's stock worth $1,483,000 after acquiring an additional 200 shares in the last quarter. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein upgraded shares of TotalEnergies from a "market perform" rating to an "outperform" rating in a research note on Monday, June 16th. Scotiabank set a $65.00 target price on shares of TotalEnergies and gave the company a "sector perform" rating in a report on Friday, July 11th. Finally, Piper Sandler raised their target price on TotalEnergies from $66.00 to $68.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.95.

TotalEnergies Stock Down 1.3%

Shares of NYSE TTE traded down $0.78 during mid-day trading on Friday, hitting $60.60. The company had a trading volume of 1,256,700 shares, compared to its average volume of 1,169,182. The business's 50-day simple moving average is $61.56 and its 200 day simple moving average is $60.71. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 0.81. TotalEnergies SE Sponsored ADR has a 1-year low of $52.78 and a 1-year high of $69.79. The company has a market capitalization of $145.30 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.04 and a beta of 0.59.

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). TotalEnergies had a net margin of 6.20% and a return on equity of 13.59%. The company had revenue of $44.68 billion during the quarter, compared to analyst estimates of $42.44 billion. On average, analysts predict that TotalEnergies SE Sponsored ADR will post 8.02 earnings per share for the current year.

About TotalEnergies

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.