Garland Capital Management Inc. Sells 5,005 Shares of TotalEnergies SE Sponsored ADR (NYSE:TTE)

Garland Capital Management Inc. reduced its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,237 shares of the company's stock after selling 5,005 shares during the quarter. TotalEnergies makes up approximately 2.7% of Garland Capital Management Inc.'s holdings, making the stock its 23rd biggest position. Garland Capital Management Inc.'s holdings in TotalEnergies were worth $2,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Franklin Resources Inc. grew its position in TotalEnergies by 41.7% in the fourth quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company's stock valued at $309,851,000 after purchasing an additional 1,672,387 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of TotalEnergies in the 1st quarter valued at about $280,000. Bank of Montreal Can increased its position in shares of TotalEnergies by 13.9% in the fourth quarter. Bank of Montreal Can now owns 484,854 shares of the company's stock valued at $26,425,000 after acquiring an additional 59,256 shares during the last quarter. CIBC Asset Management Inc raised its holdings in TotalEnergies by 15.7% during the fourth quarter. CIBC Asset Management Inc now owns 59,100 shares of the company's stock worth $3,221,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in TotalEnergies by 10.0% in the fourth quarter. Royal Bank of Canada now owns 2,917,438 shares of the company's stock valued at $159,000,000 after purchasing an additional 265,251 shares in the last quarter. 16.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TTE has been the topic of a number of analyst reports. Scotiabank dropped their price objective on TotalEnergies from $65.00 to $60.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. BNP Paribas raised shares of TotalEnergies from a "neutral" rating to an "outperform" rating in a research report on Tuesday, April 15th. Sanford C. Bernstein raised shares of TotalEnergies from a "market perform" rating to an "outperform" rating in a research report on Monday, June 16th. Piper Sandler raised their target price on shares of TotalEnergies from $62.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Finally, Citigroup upgraded TotalEnergies from a "neutral" rating to a "buy" rating in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.36.

TotalEnergies Stock Performance

Shares of TTE traded down $0.59 during midday trading on Tuesday, reaching $60.69. 2,094,884 shares of the stock were exchanged, compared to its average volume of 1,657,160. The stock's 50 day simple moving average is $59.40 and its 200 day simple moving average is $59.08. The company has a market cap of $145.52 billion, a P/E ratio of 10.22, a PEG ratio of 1.30 and a beta of 0.56. TotalEnergies SE Sponsored ADR has a twelve month low of $52.78 and a twelve month high of $71.03. The company has a quick ratio of 0.86, a current ratio of 1.07 and a debt-to-equity ratio of 0.38.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). TotalEnergies had a net margin of 6.60% and a return on equity of 14.47%. The business had revenue of $47.90 billion during the quarter, compared to the consensus estimate of $41.23 billion. During the same period in the prior year, the firm earned $2.14 EPS. On average, sell-side analysts expect that TotalEnergies SE Sponsored ADR will post 8.02 earnings per share for the current year.

TotalEnergies Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, July 11th. Shareholders of record on Thursday, June 19th will be paid a dividend of $0.7108 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a yield of 4.54%. TotalEnergies's payout ratio is 57.24%.

TotalEnergies 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.