Tocqueville Asset Management L.P. Grows Stake in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Tocqueville Asset Management L.P. increased its holdings in TotalEnergies SE by 81.3% in the first quarter, owning a total of 53,890 shares valued at approximately $3.5 million.
• Several institutional investors also increased their stakes in TotalEnergies, with hedge funds owning 16.53% of the company's stock.
• Despite reporting a miss on earnings expectations for the last quarter, TotalEnergies had a significant revenue of $44.68 billion, exceeding consensus estimates.

Tocqueville Asset Management L.P. increased its position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 81.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,890 shares of the company's stock after buying an additional 24,170 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in TotalEnergies were worth $3,486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in shares of TotalEnergies by 6.1% during the first quarter. American Century Companies Inc. now owns 1,531,284 shares of the company's stock worth $99,059,000 after acquiring an additional 87,768 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in TotalEnergies by 955.7% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 84,591 shares of the company's stock worth $5,472,000 after purchasing an additional 76,578 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its stake in TotalEnergies by 116.4% in the first quarter. Vestmark Advisory Solutions Inc. now owns 66,000 shares of the company's stock valued at $4,270,000 after purchasing an additional 35,499 shares during the period. GQG Partners LLC raised its holdings in shares of TotalEnergies by 110.6% in the first quarter. GQG Partners LLC now owns 228,358 shares of the company's stock valued at $14,773,000 after buying an additional 119,945 shares during the last quarter. Finally, LGT Group Foundation raised its holdings in shares of TotalEnergies by 12.4% in the first quarter. LGT Group Foundation now owns 35,568 shares of the company's stock valued at $2,301,000 after buying an additional 3,913 shares during the last quarter. Hedge funds and other institutional investors own 16.53% of the company's stock.

TotalEnergies Price Performance

Shares of TTE traded up $0.6850 during mid-day trading on Wednesday, hitting $63.0050. The company's stock had a trading volume of 1,245,879 shares, compared to its average volume of 1,691,478. The company has a current ratio of 1.00, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. TotalEnergies SE Sponsored ADR has a 1-year low of $52.78 and a 1-year high of $70.50. The firm has a market capitalization of $151.07 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.07 and a beta of 0.59. The firm has a 50-day simple moving average of $61.65 and a 200 day simple moving average of $60.48.

TotalEnergies (NYSE:TTE - Get Free Report) last released its quarterly earnings data 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). TotalEnergies had a return on equity of 13.59% and a net margin of 6.20%.The business had revenue of $44.68 billion during the quarter, compared to analysts' expectations of $42.44 billion. Analysts predict that TotalEnergies SE Sponsored ADR will post 8.02 EPS for the current fiscal year.

TotalEnergies Cuts Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on TTE shares. Piper Sandler boosted their price target on TotalEnergies from $66.00 to $68.00 and gave the company a "neutral" rating in a research report on Monday. Sanford C. Bernstein raised TotalEnergies from a "market perform" rating to an "outperform" rating in a report on Monday, June 16th. Dbs Bank upgraded TotalEnergies from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Scotiabank set a $65.00 price objective on shares of TotalEnergies and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Morgan Stanley raised shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price objective on the stock in a research note on Monday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.