Kayne Anderson Rudnick Investment Management LLC Acquires 31,290 Shares of TotalEnergies SE Sponsored ADR $TTE

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in TotalEnergies SE Sponsored ADR by 9.3%, holding a total of 369,074 shares valued at approximately $23.88 million.
• TotalEnergies reported earnings of $1.57 EPS for the last quarter, missing analyst expectations, but generated revenue of $44.68 billion, exceeding estimates.
• The company recently announced a dividend cut with a yield of 0.7108 and a payout ratio of 53.72%, despite experiencing a 1.0% rise in stock price on the recorded trading day.

Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 9.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 369,074 shares of the company's stock after acquiring an additional 31,290 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in TotalEnergies were worth $23,875,000 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. Financial Management Professionals Inc. grew its position in TotalEnergies by 65.8% in the first quarter. Financial Management Professionals Inc. now owns 484 shares of the company's stock valued at $31,000 after purchasing an additional 192 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of TotalEnergies during the 4th quarter worth about $32,000. Inlight Wealth Management LLC bought a new position in shares of TotalEnergies in the 1st quarter valued at about $32,000. Costello Asset Management INC bought a new position in shares of TotalEnergies in the 1st quarter valued at about $32,000. Finally, SouthState Corp raised its holdings in TotalEnergies by 126.1% during the first quarter. SouthState Corp now owns 572 shares of the company's stock worth $37,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 16.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TTE. HSBC restated a "buy" rating on shares of TotalEnergies in a research note on Tuesday, May 13th. Morgan Stanley upgraded shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price target for the company in a research note on Monday, May 12th. Sanford C. Bernstein upgraded shares of TotalEnergies from a "market perform" rating to an "outperform" rating in a research note on Monday, June 16th. Piper Sandler upped their target price on shares of TotalEnergies from $66.00 to $68.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Finally, Scotiabank set a $65.00 price objective on TotalEnergies and gave the company a "sector perform" rating in a research note on Friday, July 11th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, TotalEnergies has a consensus rating of "Moderate Buy" and a consensus price target of $66.95.

TotalEnergies Stock Performance

TotalEnergies stock traded up $0.04 during midday trading on Thursday, hitting $62.13. The company's stock had a trading volume of 1,266,486 shares, compared to its average volume of 1,678,852. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 0.81. The company has a market cap of $148.97 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.06 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 50-day moving average price of $61.66 and a two-hundred day moving average price of $60.60.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.57 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.05). TotalEnergies had a return on equity of 13.59% and a net margin of 6.20%.The company had revenue of $44.68 billion for the quarter, compared to the consensus estimate of $42.44 billion. As a group, sell-side analysts predict that TotalEnergies SE Sponsored ADR will post 8.02 earnings per share for the current year.

TotalEnergies Cuts Dividend

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

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.