Maryland State Retirement & Pension System Boosts Stake in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Maryland State Retirement & Pension System increased its TotalEnergies stake by 17.5% in the first quarter, buying 48,698 more shares and bringing its total holdings to 326,985 shares worth about $30.6 million.
• Other big institutional investors also made major moves in TotalEnergies, including Vanguard, Capital International Investors, Massachusetts Financial Services, Caisse Des Depots ET Consignations, and Norges Bank, with hedge funds and other institutions owning 16.53% of the stock.
• TotalEnergies reported strong quarterly results, posting EPS of $2.45 versus estimates of $2.22 and revenue of $49.52 billion versus expectations of $44.58 billion, while analysts currently rate the stock a consensus Moderate Buy.

Maryland State Retirement & Pension System increased its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 326,985 shares of the company's stock after purchasing an additional 48,698 shares during the quarter. Maryland State Retirement & Pension System's holdings in TotalEnergies were worth $30,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. purchased a new position in TotalEnergies in the 4th quarter worth about $5,337,330,000. Capital International Investors boosted its holdings in shares of TotalEnergies by 1,438.5% during the 4th quarter. Capital International Investors now owns 52,668,676 shares of the company's stock valued at $3,435,988,000 after acquiring an additional 49,245,192 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of TotalEnergies by 21,398.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 40,380,511 shares of the company's stock valued at $2,641,693,000 after acquiring an additional 40,192,677 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new stake in shares of TotalEnergies during the 4th quarter valued at about $1,982,676,000. Finally, Norges Bank bought a new stake in shares of TotalEnergies in the fourth quarter worth approximately $1,917,626,000. 16.53% of the stock is owned by hedge funds and other institutional investors.

TotalEnergies Price Performance

Shares of NYSE:TTE opened at $80.98 on Wednesday. The firm's 50 day moving average price is $85.24 and its 200-day moving average price is $81.29. TotalEnergies SE Sponsored ADR has a twelve month low of $57.39 and a twelve month high of $94.17. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $194.17 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 2.89 and a beta of 0.14.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.22 by $0.23. The company had revenue of $49.52 billion for the quarter, compared to the consensus estimate of $44.58 billion. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. Equities research analysts expect that TotalEnergies SE Sponsored ADR will post 10.58 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on TTE shares. Kepler Capital Markets raised shares of TotalEnergies from a "reduce" rating to a "hold" rating in a report on Thursday, April 23rd. CICC Research started coverage on shares of TotalEnergies in a report on Tuesday, June 23rd. They issued an "outperform" rating on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of TotalEnergies in a research report on Tuesday, May 12th. TD Cowen reiterated a "buy" rating on shares of TotalEnergies in a research note on Monday, April 20th. Finally, Scotiabank increased their price target on TotalEnergies from $73.00 to $97.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Ten 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 company. According to MarketBeat.com, TotalEnergies has a consensus rating of "Moderate Buy" and an average target price of $84.33.

TotalEnergies 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.

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