Legacy Wealth Asset Management LLC Trims Position in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Legacy Wealth Asset Management LLC reduced its holdings in TotalEnergies SE Sponsored ADR by 37.2% during the second quarter, owning 20,895 shares valued at approximately $1,283,000 after selling 12,357 shares.
• TotalEnergies reported a quarterly earnings per share (EPS) of $1.57, which missed consensus estimates of $1.62, although the company’s revenue surpassed expectations at $44.68 billion compared to $42.44 billion.
• Analyst ratings for TotalEnergies show a consensus rating of "Moderate Buy" with a target price of $65.20, following various upgrades and downgrades from different financial institutions.

Legacy Wealth Asset Management LLC trimmed its position in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 37.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,895 shares of the company's stock after selling 12,357 shares during the period. Legacy Wealth Asset Management LLC's holdings in TotalEnergies were worth $1,283,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TTE. Whittier Trust Co. lifted its holdings in TotalEnergies by 6.1% in the second quarter. Whittier Trust Co. now owns 10,425 shares of the company's stock valued at $640,000 after acquiring an additional 595 shares during the period. Drive Wealth Management LLC purchased a new position in shares of TotalEnergies in the 2nd quarter worth approximately $596,000. TrueMark Investments LLC boosted its holdings in shares of TotalEnergies by 18.4% in the 2nd quarter. TrueMark Investments LLC now owns 24,607 shares of the company's stock worth $1,511,000 after purchasing an additional 3,818 shares during the period. Signature Estate & Investment Advisors LLC boosted its holdings in TotalEnergies by 2.2% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 8,020 shares of the company's stock valued at $492,000 after acquiring an additional 173 shares during the period. Finally, Koshinski Asset Management Inc. boosted its holdings in TotalEnergies by 15.7% during the 2nd quarter. Koshinski Asset Management Inc. now owns 4,610 shares of the company's stock valued at $283,000 after acquiring an additional 624 shares during the period. 16.53% of the stock is owned by hedge funds and other institutional investors.

TotalEnergies Stock Performance

Shares of TTE stock opened at $61.08 on Tuesday. TotalEnergies SE Sponsored ADR has a 52-week low of $52.78 and a 52-week high of $65.76. The stock's 50-day moving average price is $61.25 and its 200 day moving average price is $60.32. The stock has a market capitalization of $146.44 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.52 and a beta of 0.53. The company has a quick ratio of 0.81, a current ratio of 1.00 and a debt-to-equity ratio of 0.40.

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). TotalEnergies had a return on equity of 13.59% and a net margin of 6.20%.The firm had revenue of $44.68 billion for the quarter, compared to analysts' expectations of $42.44 billion. As a group, equities research analysts forecast that TotalEnergies SE Sponsored ADR will post 8.02 EPS for the current year.

Analyst Upgrades and Downgrades

TTE has been the subject of several recent research reports. Scotiabank boosted their price target on TotalEnergies from $65.00 to $67.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 9th. Berenberg Bank downgraded TotalEnergies from a "buy" rating to a "hold" rating and set a $64.00 price target on the stock. in a research note on Thursday, September 25th. Weiss Ratings restated a "hold (c)" rating on shares of TotalEnergies in a research note on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of TotalEnergies in a report on Tuesday, September 30th. Finally, BNP Paribas Exane restated a "neutral" rating on shares of TotalEnergies in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.20.

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.

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