Synovus Financial Corp Decreases Stock Holdings in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Synovus Financial Corp has reduced its stake in TotalEnergies SE by 46.2%, now owning 49,733 shares valued at approximately $3.22 million as of the end of the first quarter.
• TotalEnergies reported a financial performance that missed analysts' earnings expectations, with EPS of $1.57 compared to the consensus estimate of $1.62, although revenue surpassed forecasts at $44.68 billion.
• Recent analyst reports show a generally positive outlook for TotalEnergies, with multiple upgrades and a consensus rating of "Moderate Buy" and an average price target of $66.95.

Synovus Financial Corp reduced its stake in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 46.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,733 shares of the company's stock after selling 42,784 shares during the quarter. Synovus Financial Corp's holdings in TotalEnergies were worth $3,217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TTE. First Trust Advisors LP purchased a new stake in TotalEnergies in the 4th quarter valued at $5,425,000. Dimensional Fund Advisors LP raised its position in TotalEnergies by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 373,728 shares of the company's stock valued at $20,368,000 after buying an additional 20,734 shares during the last quarter. Tower Research Capital LLC TRC raised its position in TotalEnergies by 8,565.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,726 shares of the company's stock valued at $203,000 after buying an additional 3,683 shares during the last quarter. Hsbc Holdings PLC raised its position in TotalEnergies by 5.3% in the 4th quarter. Hsbc Holdings PLC now owns 11,888 shares of the company's stock valued at $648,000 after buying an additional 603 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in TotalEnergies by 5.1% in the 4th quarter. Integrated Wealth Concepts LLC now owns 17,654 shares of the company's stock valued at $962,000 after buying an additional 859 shares during the last quarter. 16.53% of the stock is owned by hedge funds and other institutional investors.

TotalEnergies Price Performance

TTE traded up $0.67 on Friday, reaching $62.78. The company had a trading volume of 1,068,270 shares, compared to its average volume of 1,675,153. TotalEnergies SE Sponsored ADR has a 52-week low of $52.78 and a 52-week high of $69.81. The company has a market cap of $150.52 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.06 and a beta of 0.59. 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 simple moving average of $61.66 and a 200 day simple moving average of $60.61.

TotalEnergies (NYSE:TTE - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 6.20% and a return on equity of 13.59%. As a group, sell-side analysts anticipate 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. Shareholders of record on Thursday, June 19th were given a dividend of $0.7108 per share. This represents a yield of 454.0%. The ex-dividend date was Wednesday, June 18th. TotalEnergies's dividend payout ratio is presently 61.71%.

Wall Street Analysts Forecast Growth

TTE has been the subject of several research analyst reports. Sanford C. Bernstein raised TotalEnergies from a "market perform" rating to an "outperform" rating in a research report on Monday, June 16th. Dbs Bank raised TotalEnergies from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Scotiabank set a $65.00 target price on TotalEnergies and gave the company a "sector perform" rating in a research report on Friday, July 11th. Morgan Stanley raised TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 target price for the company in a research report on Monday, May 12th. Finally, HSBC reaffirmed a "buy" rating on shares of TotalEnergies in a research report on Tuesday, May 13th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, TotalEnergies has a consensus rating of "Moderate Buy" and an average price target of $66.95.

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.