Goldman Sachs Group Inc. Increases Position in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Goldman Sachs Group Inc. has increased its holdings in TotalEnergies by 53.0% during the first quarter, now owning over 3.2 million shares valued at approximately $209 million.
• Wall Street analysts have a moderate buy consensus rating for TotalEnergies, with an average price target of $66.95, indicating potential growth in the stock value.
• TotalEnergies recently reported earnings of $1.57 per share, which missed the consensus estimate, while also announcing a dividend payment of $0.7108 per share despite cutting the dividend compared to previous payouts.

Goldman Sachs Group Inc. lifted its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 53.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,232,525 shares of the company's stock after acquiring an additional 1,119,406 shares during the quarter. Goldman Sachs Group Inc. owned 0.13% of TotalEnergies worth $209,112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TTE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of TotalEnergies by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 163,193 shares of the company's stock valued at $10,557,000 after purchasing an additional 2,512 shares during the last quarter. Interval Partners LP bought a new position in TotalEnergies during the first quarter valued at about $2,522,000. Hancock Whitney Corp increased its holdings in TotalEnergies by 8.0% during the first quarter. Hancock Whitney Corp now owns 17,179 shares of the company's stock worth $1,111,000 after buying an additional 1,271 shares during the last quarter. Concorde Asset Management LLC bought a new stake in TotalEnergies in the first quarter worth about $302,000. Finally, AQR Capital Management LLC raised its position in TotalEnergies by 151.0% in the first quarter. AQR Capital Management LLC now owns 67,461 shares of the company's stock worth $4,364,000 after acquiring an additional 40,586 shares during the period. Hedge funds and other institutional investors own 16.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TTE. Scotiabank set a $65.00 price target on shares of TotalEnergies and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Piper Sandler increased their price objective 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 upgraded TotalEnergies from a "market perform" rating to an "outperform" rating in a research note on Monday, June 16th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.95.

TotalEnergies Stock Up 1.0%

TTE opened at $62.15 on Thursday. The company has a 50 day moving average of $61.69 and a 200 day moving average of $60.66. The company has a current ratio of 1.00, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. TotalEnergies SE Sponsored ADR has a 12 month low of $52.78 and a 12 month high of $69.81. The company has a market cap of $149.00 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.05 and a beta of 0.59.

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

TotalEnergies Cuts Dividend

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

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.

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