Merit Financial Group LLC Increases Stock Position in TotalEnergies SE (NYSE:TTE)

Merit Financial Group LLC grew its stake in TotalEnergies SE (NYSE:TTE - Free Report) by 58.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,975 shares of the company's stock after acquiring an additional 4,423 shares during the period. Merit Financial Group LLC's holdings in TotalEnergies were worth $775,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TTE. Franklin Resources Inc. increased its holdings in TotalEnergies by 41.7% in the 4th quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company's stock valued at $309,851,000 after purchasing an additional 1,672,387 shares during the last quarter. Bank of Montreal Can grew 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 valued at $26,425,000 after buying an additional 59,256 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of TotalEnergies by 15.7% in the fourth quarter. CIBC Asset Management Inc now owns 59,100 shares of the company's stock valued at $3,221,000 after buying an additional 8,000 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of TotalEnergies by 10.0% in the 4th quarter. Royal Bank of Canada now owns 2,917,438 shares of the company's stock valued at $159,000,000 after buying an additional 265,251 shares during the period. Finally, Equity Investment Corp lifted its stake in TotalEnergies by 10.5% during the 4th quarter. Equity Investment Corp now owns 2,058,589 shares of the company's stock worth $112,193,000 after acquiring an additional 196,277 shares in the last quarter. 16.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TTE shares. Piper Sandler lifted their target price on TotalEnergies from $62.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Dbs Bank upgraded shares of TotalEnergies from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley raised shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 target price on the stock in a research note on Monday, May 12th. HSBC reissued a "buy" rating on shares of TotalEnergies in a research report on Tuesday, May 13th. Finally, BNP Paribas raised TotalEnergies from a "neutral" rating to an "outperform" rating in a research report on Tuesday, April 15th. Four 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.36.

TotalEnergies Trading Up 0.1%

NYSE TTE opened at $59.32 on Monday. TotalEnergies SE has a 52 week low of $52.78 and a 52 week high of $71.03. The firm has a 50 day moving average of $58.29 and a two-hundred day moving average of $58.73. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $142.23 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56.

TotalEnergies (NYSE:TTE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.83 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). The firm had revenue of $47.90 billion for the quarter, compared to analyst estimates of $41.23 billion. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. During the same quarter in the previous year, the firm posted $2.14 EPS. As a group, research analysts expect that TotalEnergies SE will post 8.02 EPS for the current fiscal year.

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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