Essex Financial Services Inc. Lowers Stock Position in TotalEnergies SE Sponsored ADR (NYSE:TTE)

Essex Financial Services Inc. decreased its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 59.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,181 shares of the company's stock after selling 4,749 shares during the quarter. Essex Financial Services Inc.'s holdings in TotalEnergies were worth $206,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Bank of America Corp DE raised its position in shares of TotalEnergies by 121.1% during the fourth 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. raised its holdings in TotalEnergies by 41.7% during the fourth quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company's stock worth $309,851,000 after buying an additional 1,672,387 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of TotalEnergies by 10.0% in the fourth quarter. Royal Bank of Canada now owns 2,917,438 shares of the company's stock valued at $159,000,000 after buying an additional 265,251 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of TotalEnergies by 19.5% in the fourth quarter. Federated Hermes Inc. now owns 2,886,405 shares of the company's stock valued at $157,309,000 after buying an additional 471,291 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of TotalEnergies during the fourth quarter valued at about $156,044,000. 16.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citigroup raised TotalEnergies from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 26th. Sanford C. Bernstein upgraded TotalEnergies from a "market perform" rating to an "outperform" rating in a research note on Monday, June 16th. Morgan Stanley raised TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 target price for the company in a research report on Monday, May 12th. Dbs Bank upgraded TotalEnergies from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, BNP Paribas upgraded TotalEnergies from a "neutral" rating to an "outperform" rating in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $69.96.

TotalEnergies Stock Performance

Shares of NYSE:TTE traded down $0.38 during midday trading on Friday, reaching $63.11. 1,315,049 shares of the company traded hands, compared to its average volume of 1,663,588. The firm's fifty day moving average price is $60.01 and its two-hundred day moving average price is $59.45. The firm has a market capitalization of $151.32 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.25 and a beta of 0.57. The company has a quick ratio of 0.86, a current ratio of 1.07 and a debt-to-equity ratio of 0.38. TotalEnergies SE Sponsored ADR has a 12 month low of $52.78 and a 12 month high of $70.64.

TotalEnergies (NYSE:TTE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). TotalEnergies had a net margin of 6.60% and a return on equity of 14.47%. The company had revenue of $47.90 billion for the quarter, compared to the consensus estimate of $41.23 billion. During the same quarter in the prior year, the company earned $2.14 earnings per share. On average, equities analysts expect that TotalEnergies SE Sponsored ADR will post 8.02 earnings per share for the current year.

TotalEnergies Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, July 11th. Shareholders of record on Thursday, June 19th will be paid a $0.7108 dividend. This represents a yield of 4.54%. The ex-dividend date of this dividend is Wednesday, June 18th. TotalEnergies's dividend payout ratio is presently 47.81%.

TotalEnergies 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.