Manning & Napier Advisors LLC Makes New Investment in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Manning & Napier Advisors initiated a TotalEnergies stake of 90,877 shares valued at approximately $7.1 million in the second quarter. Other institutions also increased their holdings, with institutional investors collectively owning 16.53% of the stock.
• TotalEnergies reported quarterly revenue of $57.1 billion and earnings of $2.68 per share, while analysts project full-year EPS of $10.65. The stock recently traded at $89.46, near its 52-week high of $94.17.
• Analyst sentiment remains positive, with 11 Buy ratings, seven Holds, and one Sell; the stock has a consensus “Moderate Buy” rating and an average target price of $87.14.

Manning & Napier Advisors LLC bought a new stake in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 90,877 shares of the company's stock, valued at approximately $7,067,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC grew its position in TotalEnergies by 151.0% in the first quarter. AQR Capital Management LLC now owns 67,461 shares of the company's stock valued at $4,364,000 after acquiring an additional 40,586 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of TotalEnergies by 2.1% in the 1st quarter. Empowered Funds LLC now owns 40,988 shares of the company's stock valued at $2,652,000 after purchasing an additional 835 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of TotalEnergies by 17.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,136 shares of the company's stock valued at $315,000 after purchasing an additional 774 shares during the last quarter. Russell Investments Group Ltd. increased its position in TotalEnergies by 14.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,274 shares of the company's stock worth $1,490,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Invesco Ltd. increased its position in TotalEnergies by 7.3% during the 2nd quarter. Invesco Ltd. now owns 198,215 shares of the company's stock worth $12,168,000 after purchasing an additional 13,536 shares in the last quarter. Institutional investors own 16.53% of the company's stock.

TotalEnergies Stock Performance

Shares of TTE stock opened at $89.46 on Tuesday. The firm has a 50 day moving average of $83.16 and a 200-day moving average of $85.15. The company has a market cap of $214.51 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 3.17 and a beta of 0.13. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.38. TotalEnergies SE Sponsored ADR has a 52 week low of $57.39 and a 52 week high of $94.17.

TotalEnergies (NYSE:TTE - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $2.68 earnings per share (EPS) for the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. The business had revenue of $57.10 billion for the quarter. On average, equities analysts forecast that TotalEnergies SE Sponsored ADR will post 10.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on TTE shares. Piper Sandler reaffirmed a "neutral" rating and set a $85.00 target price on shares of TotalEnergies in a research note on Thursday, July 23rd. Morgan Stanley reiterated an "overweight" rating on shares of TotalEnergies in a research note on Tuesday, May 12th. Weiss Ratings upgraded TotalEnergies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. TD Cowen boosted their price objective on TotalEnergies from $102.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, CICC Research started coverage on TotalEnergies in a research report on Tuesday, June 23rd. They issued an "outperform" rating for the company. Eleven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, TotalEnergies has a consensus rating of "Moderate Buy" and a consensus target price of $87.14.

TotalEnergies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source