Thornburg Investment Management Inc. Sells 7,315 Shares of TotalEnergies SE (NYSE:TTE)

Thornburg Investment Management Inc. reduced its stake in TotalEnergies SE (NYSE:TTE - Free Report) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,600 shares of the company's stock after selling 7,315 shares during the period. Thornburg Investment Management Inc.'s holdings in TotalEnergies were worth $11,423,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TTE. Snowden Capital Advisors LLC boosted its stake in TotalEnergies by 0.8% in the 4th quarter. Snowden Capital Advisors LLC now owns 25,441 shares of the company's stock worth $1,407,000 after purchasing an additional 205 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of TotalEnergies by 23.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 142,025 shares of the company's stock worth $7,740,000 after buying an additional 26,968 shares in the last quarter. SIR Capital Management L.P. boosted its position in shares of TotalEnergies by 82.9% in the fourth quarter. SIR Capital Management L.P. now owns 108,300 shares of the company's stock valued at $5,902,000 after acquiring an additional 49,100 shares during the period. Royal Bank of Canada grew its stake in TotalEnergies by 10.0% during the fourth 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 in the last quarter. Finally, Merewether Investment Management LP bought a new stake in TotalEnergies during the 4th quarter worth approximately $1,405,000. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BNP Paribas raised shares of TotalEnergies from a "neutral" rating to an "outperform" rating in a report on Tuesday, April 15th. Piper Sandler lifted their price objective on TotalEnergies from $62.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Scotiabank reduced their target price on TotalEnergies from $65.00 to $60.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Redburn Atlantic upgraded TotalEnergies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley upgraded 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. Four equities research 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $69.36.

TotalEnergies Price Performance

TTE stock traded down $0.54 during mid-day trading on Wednesday, hitting $58.86. 1,107,768 shares of the stock were exchanged, compared to its average volume of 1,618,120. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.88. The business has a fifty day moving average price of $59.60 and a 200 day moving average price of $58.95. TotalEnergies SE has a 12 month low of $52.78 and a 12 month high of $73.12. The stock has a market capitalization of $141.13 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 0.98 and a beta of 0.58.

TotalEnergies (NYSE:TTE - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.83 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. The firm had revenue of $47.90 billion during the quarter, compared to the consensus estimate of $41.23 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. On average, sell-side analysts anticipate that TotalEnergies SE will post 8.02 EPS for the current 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.