Fred Alger Management LLC Grows Stock Position in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Fred Alger Management LLC increased its stake in TotalEnergies SE by 8.1%, holding a total of 80,432 shares valued at approximately $5.26 million after acquiring additional shares in the first quarter.
• TotalEnergies reported earnings of $1.57 per share, missing expectations, but achieved a revenue of $44.68 billion, exceeding analyst estimates of $42.44 billion.
• Analysts have a consensus rating of "Moderate Buy" for TotalEnergies, with an average price target of $66.95 after several ratings upgrades from leading financial institutions.

Fred Alger Management LLC lifted its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,432 shares of the company's stock after acquiring an additional 6,044 shares during the period. Fred Alger Management LLC's holdings in TotalEnergies were worth $5,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Mayflower Financial Advisors LLC raised its holdings in shares of TotalEnergies by 1.2% during the 1st quarter. Mayflower Financial Advisors LLC now owns 14,646 shares of the company's stock worth $947,000 after acquiring an additional 176 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in shares of TotalEnergies by 1.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 9,814 shares of the company's stock worth $635,000 after purchasing an additional 185 shares during the period. J2 Capital Management Inc boosted its holdings in TotalEnergies by 3.3% during the 1st quarter. J2 Capital Management Inc now owns 5,954 shares of the company's stock valued at $385,000 after acquiring an additional 191 shares during the period. Financial Management Professionals Inc. boosted its holdings in TotalEnergies by 65.8% during the 1st quarter. Financial Management Professionals Inc. now owns 484 shares of the company's stock valued at $31,000 after acquiring an additional 192 shares during the period. Finally, Ipswich Investment Management Co. Inc. boosted its holdings in TotalEnergies by 0.9% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 22,930 shares of the company's stock valued at $1,483,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 16.53% of the company's stock.

TotalEnergies Stock Down 0.4%

TotalEnergies stock traded down $0.23 during mid-day trading on Friday, hitting $61.17. The company had a trading volume of 1,998,493 shares, compared to its average volume of 1,169,457. The stock has a market cap of $146.67 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.05 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 quick ratio of 0.81, a current ratio of 1.00 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $61.62 and a 200 day moving average of $60.67.

TotalEnergies (NYSE:TTE - Get Free Report) last announced 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). The company had revenue of $44.68 billion during the quarter, compared to analysts' expectations of $42.44 billion. TotalEnergies had a net margin of 6.20% and a return on equity of 13.59%. On average, sell-side analysts expect that TotalEnergies SE Sponsored ADR will post 8.02 earnings per share for the current fiscal year.

TotalEnergies Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, July 11th. Shareholders of record on Thursday, June 19th were paid a $0.7108 dividend. The ex-dividend date was Wednesday, June 18th. This represents a yield of 454.0%. TotalEnergies's payout ratio is currently 53.72%.

Wall Street Analyst Weigh In

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

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.