The Manufacturers Life Insurance Company Has $194.40 Million Stock Position in TotalEnergies SE Sponsored ADR $TTE

Key Points

• The Manufacturers Life Insurance Company reduced its TotalEnergies stake by 4.7% in the first quarter, selling 102,776 shares and retaining 2.10 million shares valued at approximately $194.4 million.
• TotalEnergies reported quarterly earnings of $2.68 per share on $57.1 billion in revenue, with analysts expecting $10.61 in full-year EPS.
• Wall Street sentiment is favorable, with 11 Buy, 7 Hold, and 1 Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $87.14.

The Manufacturers Life Insurance Company cut its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,095,610 shares of the company's stock after selling 102,776 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of TotalEnergies worth $194,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aberdeen Group plc lifted its position in shares of TotalEnergies by 14.5% during the fourth quarter. Aberdeen Group plc now owns 384,040 shares of the company's stock valued at $25,124,000 after purchasing an additional 48,640 shares in the last quarter. ABN AMRO Bank N.V. bought a new stake in TotalEnergies in the 4th quarter worth about $122,831,000. Assetmark Inc. grew its position in TotalEnergies by 8.1% in the 4th quarter. Assetmark Inc. now owns 246,475 shares of the company's stock worth $16,124,000 after purchasing an additional 18,480 shares in the last quarter. Vanguard Group Inc. purchased a new stake in TotalEnergies in the 4th quarter valued at about $5,337,330,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in TotalEnergies in the 4th quarter valued at about $830,000. Institutional investors and hedge funds own 16.53% of the company's stock.

TotalEnergies Stock Up 0.1%

TTE opened at $84.25 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.38. The stock has a market cap of $202.00 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 2.98 and a beta of 0.14. TotalEnergies SE Sponsored ADR has a twelve month low of $57.39 and a twelve month high of $94.17. The company's 50-day moving average price is $83.65 and its two-hundred day moving average price is $82.55.

TotalEnergies (NYSE:TTE - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $2.68 earnings per share for the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. The firm had revenue of $57.10 billion during the quarter. As a group, equities analysts expect that TotalEnergies SE Sponsored ADR will post 10.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TTE. TD Cowen boosted their target price on TotalEnergies from $102.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Morgan Stanley reaffirmed an "overweight" rating on shares of TotalEnergies in a research report on Tuesday, May 12th. CICC Research initiated coverage on TotalEnergies in a report on Tuesday, June 23rd. They set an "outperform" rating on the stock. BNP Paribas Exane upgraded TotalEnergies from a "neutral" rating to an "outperform" rating in a report on Friday, April 17th. Finally, Kepler Capital Markets raised TotalEnergies from a "reduce" rating to a "hold" rating in a research report on Thursday, April 23rd. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TotalEnergies currently has an average rating of "Moderate Buy" and a consensus price target 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.

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