Drive Wealth Management LLC Makes New Investment in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Drive Wealth Management LLC has made a new investment in TotalEnergies SE, purchasing 9,645 shares valued at approximately $596,000 in the 2nd quarter.
• Several institutional investors have increased their stakes in TotalEnergies, with Goldman Sachs growing its holdings by 53.0% in the 1st quarter.
• TotalEnergies reported a miss in earnings per share for the last quarter, posting $1.57 EPS compared to a consensus estimate of $1.62.

Drive Wealth Management LLC purchased a new stake in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,645 shares of the company's stock, valued at approximately $596,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TTE. Goldman Sachs Group Inc. grew its holdings in shares of TotalEnergies by 53.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,232,525 shares of the company's stock valued at $209,112,000 after buying an additional 1,119,406 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of TotalEnergies by 287.2% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,247,765 shares of the company's stock valued at $80,718,000 after buying an additional 925,541 shares during the period. Federated Hermes Inc. grew its holdings in shares of TotalEnergies by 23.1% in the 1st quarter. Federated Hermes Inc. now owns 3,552,025 shares of the company's stock valued at $229,780,000 after buying an additional 665,620 shares during the period. Natixis Advisors LLC grew its holdings in shares of TotalEnergies by 17.3% in the 1st quarter. Natixis Advisors LLC now owns 2,160,096 shares of the company's stock valued at $139,737,000 after buying an additional 318,225 shares during the period. Finally, GW Henssler & Associates Ltd. acquired a new position in shares of TotalEnergies in the 1st quarter valued at $20,580,000. Institutional investors and hedge funds own 16.53% of the company's stock.

TotalEnergies Trading Up 1.9%

Shares of NYSE:TTE opened at $61.56 on Monday. The company's 50-day moving average price is $61.25 and its two-hundred day moving average price is $60.29. 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 one year low of $52.78 and a one year high of $65.76. The stock has a market capitalization of $147.60 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.52 and a beta of 0.53.

TotalEnergies (NYSE:TTE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.57 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.05). TotalEnergies had a return on equity of 13.59% and a net margin of 6.20%.The business had revenue of $44.68 billion for the quarter, compared to the consensus estimate of $42.44 billion. On average, equities analysts forecast that TotalEnergies SE Sponsored ADR will post 8.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TTE shares. BNP Paribas Exane reissued a "neutral" rating on shares of TotalEnergies in a report on Tuesday, September 23rd. BNP Paribas cut shares of TotalEnergies from an "outperform" rating to a "hold" rating in a research report on Tuesday, September 23rd. Piper Sandler boosted their price objective on shares of TotalEnergies from $66.00 to $68.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of TotalEnergies in a research report on Tuesday, September 30th. Finally, Scotiabank boosted their price objective on shares of TotalEnergies from $65.00 to $67.00 and gave the company a "sector perform" rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $64.95.

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.

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