PNC Financial Services Group Inc. Sells 41,713 Shares of TotalEnergies SE Sponsored ADR (NYSE:TTE)

Key Points

• PNC Financial Services Group Inc. has decreased its stake in TotalEnergies SE by 7.5% after selling 41,713 shares, now holding a total of 516,095 shares valued at approximately $33.39 million.
• TotalEnergies reported Q2 earnings of $1.57 EPS, missing estimates, while its revenue reached $44.68 billion, exceeding expectations.
• Several brokerages have adjusted their price targets for TotalEnergies, with Piper Sandler lowering it to $66.00 while Morgan Stanley upgraded to $60.80, indicating shifting analyst sentiment.

PNC Financial Services Group Inc. reduced its position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 516,095 shares of the company's stock after selling 41,713 shares during the period. PNC Financial Services Group Inc.'s holdings in TotalEnergies were worth $33,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTE. Bank of America Corp DE boosted its stake in shares of TotalEnergies by 121.1% during the 4th quarter. Bank of America Corp DE now owns 7,648,225 shares of the company's stock worth $416,828,000 after purchasing an additional 4,189,652 shares during the last quarter. Federated Hermes Inc. lifted its position in TotalEnergies by 23.1% during the 1st quarter. Federated Hermes Inc. now owns 3,552,025 shares of the company's stock worth $229,780,000 after acquiring an additional 665,620 shares in the last quarter. Royal Bank of Canada increased its stake in shares of TotalEnergies by 10.0% in the fourth quarter. Royal Bank of Canada now owns 2,917,438 shares of the company's stock worth $159,000,000 after buying an additional 265,251 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in TotalEnergies by 8.0% during the first quarter. Envestnet Asset Management Inc. now owns 2,859,047 shares of the company's stock worth $184,952,000 after acquiring an additional 210,566 shares during the period. Finally, Natixis Advisors LLC increased its position in TotalEnergies by 17.3% in the first quarter. Natixis Advisors LLC now owns 2,160,096 shares of the company's stock worth $139,737,000 after buying an additional 318,225 shares during the period. Institutional investors and hedge funds own 16.53% of the company's stock.

TotalEnergies Price Performance

NYSE TTE traded up $0.74 on Tuesday, hitting $60.23. 1,068,647 shares of the company were exchanged, compared to its average volume of 1,459,426. The company has a current ratio of 1.00, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $61.22 and a two-hundred day moving average of $60.28. TotalEnergies SE Sponsored ADR has a 1-year low of $52.78 and a 1-year high of $70.50. The company has a market cap of $144.41 billion, a P/E ratio of 10.93, a P/E/G ratio of 1.03 and a beta of 0.59.

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

TotalEnergies Cuts Dividend

The firm also recently declared 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. This represents a dividend yield of 454.0%. The ex-dividend date of this dividend was Wednesday, June 18th. TotalEnergies's dividend payout ratio (DPR) is currently 53.72%.

Wall Street Analysts Forecast Growth

TTE has been the topic of a number of research analyst reports. Piper Sandler lowered their price target on TotalEnergies from $68.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Dbs Bank raised shares of TotalEnergies from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Sanford C. Bernstein upgraded shares of TotalEnergies from a "market perform" rating to an "outperform" rating in a research note on Monday, June 16th. HSBC reaffirmed a "buy" rating on shares of TotalEnergies in a report on Tuesday, May 13th. Finally, Scotiabank set a $65.00 price target on shares of TotalEnergies and gave the company a "sector perform" rating in a report on Friday, July 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.45.

TotalEnergies Company Profile

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.