Federated Hermes Inc. Increases Stock Position in TotalEnergies SE Sponsored ADR (NYSE:TTE)

Key Points

• Federated Hermes Inc. has increased its stake in TotalEnergies SE by 23.1%, owning approximately 3.55 million shares valued at $229.78 million.
• Several analysts have upgraded TotalEnergies' stock, with a consensus rating of "Moderate Buy" and a price target of $66.45.
• TotalEnergies reported earnings per share of $1.57 for the last quarter, falling short of expectations, even as quarterly revenue exceeded forecasts at $44.68 billion.

Federated Hermes Inc. lifted its holdings in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 23.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,552,025 shares of the company's stock after acquiring an additional 665,620 shares during the quarter. Federated Hermes Inc. owned 0.15% of TotalEnergies worth $229,780,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TTE. Financial Management Professionals Inc. increased its stake in shares of TotalEnergies by 65.8% in the first quarter. Financial Management Professionals Inc. now owns 484 shares of the company's stock worth $31,000 after buying an additional 192 shares during the period. Bernard Wealth Management Corp. purchased a new position in shares of TotalEnergies in the fourth quarter worth $32,000. Inlight Wealth Management LLC purchased a new position in shares of TotalEnergies in the first quarter worth $32,000. Arlington Trust Co LLC purchased a new position in shares of TotalEnergies in the first quarter worth $39,000. Finally, General Partner Inc. purchased a new position in shares of TotalEnergies in the first quarter worth $65,000. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Stock Down 0.9%

Shares of NYSE TTE traded down $0.54 during midday trading on Friday, hitting $59.01. The stock had a trading volume of 1,150,871 shares, compared to its average volume of 1,716,501. The business's 50 day moving average is $61.16 and its 200-day moving average is $60.25. The company has a market cap of $141.49 billion, a P/E ratio of 10.71, a PEG ratio of 1.04 and a beta of 0.57. TotalEnergies SE Sponsored ADR has a 52 week low of $52.78 and a 52 week high of $70.50. 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 (NYSE:TTE - Get Free Report) last issued 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 firm had revenue of $44.68 billion during the quarter, compared to the consensus estimate of $42.44 billion. TotalEnergies had a return on equity of 13.59% and a net margin of 6.20%. As a group, analysts predict that TotalEnergies SE Sponsored ADR will post 8.02 EPS for the current year.

TotalEnergies Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TTE shares. 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. Piper Sandler reduced their price objective on shares of TotalEnergies from $68.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. HSBC reissued a "buy" rating on shares of TotalEnergies in a research report on Tuesday, May 13th. Sanford C. Bernstein raised shares of TotalEnergies from a "market perform" rating to an "outperform" rating in a research report on Monday, June 16th. Finally, Dbs Bank raised shares of TotalEnergies from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, TotalEnergies presently has a consensus rating of "Moderate Buy" and an average price target of $66.45.

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.