Jennison Associates LLC Has $37.42 Million Position in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Jennison Associates LLC increased its stake in TotalEnergies by 10.4% in the first quarter, buying 38,897 more shares and bringing its total holdings to 411,282 shares worth about $37.4 million.
• Several other institutional investors also modestly added to their TotalEnergies positions, and overall institutional ownership stands at 16.53%.
• Analyst sentiment remains generally positive: TotalEnergies has a Moderate Buy consensus rating with an average price target of $87, while the stock recently traded around $81.04 after a small decline.

Jennison Associates LLC lifted its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 10.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 411,282 shares of the company's stock after purchasing an additional 38,897 shares during the period. Jennison Associates LLC's holdings in TotalEnergies were worth $37,418,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. MGO One Seven LLC raised its stake in shares of TotalEnergies by 1.3% in the fourth quarter. MGO One Seven LLC now owns 10,410 shares of the company's stock worth $681,000 after acquiring an additional 137 shares during the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of TotalEnergies by 2.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 6,334 shares of the company's stock valued at $414,000 after purchasing an additional 150 shares in the last quarter. World Investment Advisors increased its holdings in shares of TotalEnergies by 2.0% in the first quarter. World Investment Advisors now owns 8,448 shares of the company's stock valued at $771,000 after purchasing an additional 165 shares in the last quarter. Sigma Planning Corp raised its position in TotalEnergies by 2.3% in the 1st quarter. Sigma Planning Corp now owns 7,577 shares of the company's stock worth $690,000 after purchasing an additional 169 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its holdings in TotalEnergies by 4.4% during the 4th quarter. Bruce G. Allen Investments LLC now owns 4,091 shares of the company's stock worth $268,000 after buying an additional 172 shares in the last quarter. 16.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on TTE shares. Scotiabank increased their price objective on TotalEnergies from $73.00 to $97.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. TD Cowen reaffirmed a "buy" rating on shares of TotalEnergies in a research note on Monday, April 20th. CICC Research assumed coverage on TotalEnergies in a report on Tuesday, June 23rd. They issued an "outperform" rating on the stock. Wall Street Zen lowered TotalEnergies from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Finally, Weiss Ratings upgraded shares of TotalEnergies from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday, May 1st. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $87.00.

TotalEnergies Stock Down 0.4%

NYSE:TTE opened at $81.04 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. TotalEnergies SE Sponsored ADR has a 12-month low of $57.39 and a 12-month high of $94.17. The stock's fifty day simple moving average is $84.51 and its 200-day simple moving average is $81.70. The firm has a market capitalization of $194.31 billion, a P/E ratio of 12.01, a P/E/G ratio of 2.90 and a beta of 0.14.

TotalEnergies (NYSE:TTE - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.22 by $0.23. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. The business had revenue of $49.52 billion during the quarter, compared to analysts' expectations of $44.58 billion. Equities research analysts expect that TotalEnergies SE Sponsored ADR will post 10.56 earnings per share for the current year.

TotalEnergies Profile

TotalEnergies SE NYSE: TTE is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.

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