Thornburg Investment Management Inc. Boosts Stock Position in TotalEnergies SE Sponsored ADR (NYSE:TTE)

Key Points

• Thornburg Investment Management Inc. increased its stake in TotalEnergies SE by 8.2%, owning 226,706 shares valued at approximately $14.67 million as of its most recent SEC filing.
• Several large investors, including Thrivent Financial and Franklin Resources, have also significantly increased their holdings in TotalEnergies during the last quarter, indicating strong institutional interest.
• TotalEnergies reported a miss in earnings per share of $1.57 compared to analysts' estimates of $1.62, while reporting revenues of $44.68 billion for the quarter.

Thornburg Investment Management Inc. grew its stake in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,706 shares of the company's stock after purchasing an additional 17,106 shares during the period. Thornburg Investment Management Inc.'s holdings in TotalEnergies were worth $14,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE increased its holdings in 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 period. Franklin Resources Inc. increased its holdings in shares of 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 acquiring an additional 1,672,387 shares during the period. Federated Hermes Inc. increased its holdings in shares of TotalEnergies by 23.1% in the 1st quarter. Federated Hermes Inc. now owns 3,552,025 shares of the company's stock valued at $229,780,000 after acquiring an additional 665,620 shares during the period. Royal Bank of Canada increased 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 acquiring an additional 265,251 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of TotalEnergies by 8.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,859,047 shares of the company's stock valued at $184,952,000 after acquiring an additional 210,566 shares during the period. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Sanford C. Bernstein raised TotalEnergies from a "market perform" rating to an "outperform" rating in a research report on Monday, June 16th. HSBC reissued a "buy" rating on shares of TotalEnergies in a research report on Tuesday, May 13th. Scotiabank set a $65.00 price objective on TotalEnergies and gave the stock 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 price target for the company in a research report on Monday, May 12th. Finally, Piper Sandler lowered their price target on TotalEnergies from $68.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.45.

TotalEnergies Stock Performance

Shares of TTE stock traded down $0.41 on Friday, hitting $59.14. The company had a trading volume of 1,644,439 shares, compared to its average volume of 1,720,295. The firm has a market cap of $141.80 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The company has a 50-day moving average price of $61.16 and a 200-day moving average price of $60.25. The company has a quick ratio of 0.81, a current ratio of 1.00 and a debt-to-equity ratio of 0.40. TotalEnergies SE Sponsored ADR has a twelve month low of $52.78 and a twelve month high of $70.50.

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

TotalEnergies Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, July 11th. Investors of record on Thursday, June 19th were issued a $0.7108 dividend. The ex-dividend date was Wednesday, June 18th. This represents a yield of 454.0%. TotalEnergies's dividend payout ratio is currently 61.71%.

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.