Mackenzie Financial Corp Purchases 122,160 Shares of TotalEnergies SE Sponsored ADR (NYSE:TTE)

Key Points

• Mackenzie Financial Corp increased its stake in TotalEnergies SE by 9.5%, now owning approximately 1.4 million shares valued at about $90.7 million.
• TotalEnergies recently reported earnings of $1.57 per share, which fell short of the consensus estimate of $1.62, while its revenue for the quarter was $44.68 billion against an expected $42.44 billion.
• The company has a consensus rating of "Moderate Buy" from analysts, with a target price of $66.45, although some firms have adjusted their price targets downward.

Mackenzie Financial Corp increased its position in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 9.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,401,782 shares of the company's stock after acquiring an additional 122,160 shares during the period. Mackenzie Financial Corp owned about 0.06% of TotalEnergies worth $90,681,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TTE. Financial Management Professionals Inc. grew its holdings in TotalEnergies by 65.8% during 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 during the period. Bernard Wealth Management Corp. bought a new stake in TotalEnergies during the fourth quarter valued at about $32,000. Inlight Wealth Management LLC bought a new stake in TotalEnergies during the first quarter valued at about $32,000. Arlington Trust Co LLC purchased a new position in shares of TotalEnergies in the first quarter valued at about $39,000. Finally, General Partner Inc. purchased a new position in shares of TotalEnergies in the first quarter valued at about $65,000. Institutional investors own 16.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Dbs Bank upgraded TotalEnergies from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Scotiabank set a $65.00 price objective on TotalEnergies and gave the company a "sector perform" rating in a research report on Friday, July 11th. HSBC restated a "buy" rating on shares of TotalEnergies in a research report on Tuesday, May 13th. Sanford C. Bernstein upgraded TotalEnergies from a "market perform" rating to an "outperform" rating in a research report on Monday, June 16th. Finally, Morgan Stanley upgraded TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 target price on the stock in a research report on Monday, May 12th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, TotalEnergies has a consensus rating of "Moderate Buy" and an average price target of $66.45.

TotalEnergies Trading Down 1.2%

TTE stock traded down $0.72 during midday trading on Friday, reaching $58.83. 916,170 shares of the company traded hands, compared to its average volume of 1,714,806. TotalEnergies SE Sponsored ADR has a 52-week low of $52.78 and a 52-week 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 business has a 50 day moving average of $61.16 and a 200-day moving average of $60.25. The firm has a market capitalization of $141.06 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 1.04 and a beta of 0.57.

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

TotalEnergies Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, July 11th. Stockholders of record on Thursday, June 19th were paid a dividend of $0.7108 per share. 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 currently 61.71%.

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.