LPL Financial LLC Acquires 106,681 Shares of TotalEnergies SE Sponsored ADR (NYSE:TTE)

Key Points

• LPL Financial LLC increased its stake in TotalEnergies SE by 9.2%, now owning 1,271,653 shares valued at approximately $82.26 million.
• Several large investors significantly increased their holdings in TotalEnergies, including Bank of America Corp DE, which grew its position by 121.1% during the fourth quarter.
• TotalEnergies recently reported earnings of $1.57 per share, missing analyst expectations, and also cut its dividend payout to a yield of 4.54%.

LPL Financial LLC lifted its stake in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 9.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,271,653 shares of the company's stock after buying an additional 106,681 shares during the period. LPL Financial LLC owned approximately 0.05% of TotalEnergies worth $82,263,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TTE. Franklin Resources Inc. lifted its stake in shares of TotalEnergies by 41.7% in the fourth quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company's stock worth $309,851,000 after acquiring an additional 1,672,387 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of TotalEnergies in the 1st quarter valued at approximately $280,000. Leo Wealth LLC grew its position in shares of TotalEnergies by 106.7% during the first quarter. Leo Wealth LLC now owns 20,931 shares of the company's stock worth $1,354,000 after buying an additional 10,805 shares in the last quarter. Bank of Montreal Can increased its stake 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 worth $26,425,000 after buying an additional 59,256 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings 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 acquiring an additional 265,251 shares in the last quarter. Institutional investors and hedge funds own 16.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TTE. Piper Sandler cut their target price on shares of TotalEnergies from $68.00 to $66.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Sanford C. Bernstein raised TotalEnergies from a "market perform" rating to an "outperform" rating in a research report on Monday, June 16th. Dbs Bank raised shares of TotalEnergies from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. HSBC restated a "buy" rating on shares of TotalEnergies in a research report on Tuesday, May 13th. Finally, Morgan Stanley upgraded shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price objective on the stock in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, TotalEnergies currently has a consensus rating of "Moderate Buy" and an average target price of $66.45.

TotalEnergies Trading Down 0.7%

Shares of NYSE:TTE traded down $0.41 during midday trading on Friday, reaching $59.14. The company had a trading volume of 1,644,439 shares, compared to its average volume of 1,384,183. TotalEnergies SE Sponsored ADR has a 1-year low of $52.78 and a 1-year high of $70.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.00. The firm has a market cap of $141.80 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 1.04 and a beta of 0.59. The company has a fifty day simple moving average of $61.16 and a two-hundred day simple moving average of $60.25.

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

TotalEnergies Cuts Dividend

The company also recently declared 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 was Wednesday, June 18th. TotalEnergies's dividend payout ratio is 53.72%.

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.