Cadence Bank Grows Holdings in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Cadence Bank increased its stake in TotalEnergies SE by 8.5% during the first quarter, now holding 118,733 shares valued at approximately $7.68 million.
• Analysts have shown positive sentiment towards TotalEnergies, with upgrades from Sanford C. Bernstein and Morgan Stanley among others, resulting in a consensus rating of "Moderate Buy".
• TotalEnergies reported $1.57 earnings per share for the last quarter, which was lower than analyst expectations, but its revenue of $44.68 billion exceeded forecasts.

Cadence Bank increased its position in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 118,733 shares of the company's stock after acquiring an additional 9,262 shares during the quarter. Cadence Bank's holdings in TotalEnergies were worth $7,681,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TTE. Bank of America Corp DE increased its holdings in TotalEnergies by 121.1% in the 4th quarter. Bank of America Corp DE now owns 7,648,225 shares of the company's stock worth $416,828,000 after acquiring an additional 4,189,652 shares during the last quarter. Federated Hermes Inc. grew its holdings in TotalEnergies by 23.1% during the 1st quarter. Federated Hermes Inc. now owns 3,552,025 shares of the company's stock valued at $229,780,000 after buying an additional 665,620 shares in the last quarter. Northern Trust Corp grew its holdings in TotalEnergies by 41.7% during the 4th quarter. Northern Trust Corp now owns 1,783,017 shares of the company's stock valued at $97,174,000 after buying an additional 524,314 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in TotalEnergies by 295.3% during the 4th quarter. BNP Paribas Financial Markets now owns 689,494 shares of the company's stock valued at $37,577,000 after buying an additional 515,088 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in TotalEnergies by 17.3% during the 1st quarter. Natixis Advisors LLC now owns 2,160,096 shares of the company's stock valued at $139,737,000 after buying an additional 318,225 shares in the last quarter. Hedge funds and other institutional investors own 16.53% of the company's stock.

TotalEnergies Stock Performance

Shares of NYSE:TTE traded up $0.09 during midday trading on Wednesday, reaching $62.01. 1,300,987 shares of the company's stock traded hands, compared to its average volume of 1,681,222. The company has a market cap of $148.67 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 1.07 and a beta of 0.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.00. TotalEnergies SE Sponsored ADR has a one year low of $52.78 and a one year high of $69.81. The stock has a 50 day moving average of $61.66 and a 200 day moving average of $60.59.

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

TotalEnergies Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, July 11th. Shareholders of record on Thursday, June 19th were issued a $0.7108 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a yield of 454.0%. TotalEnergies's dividend payout ratio is currently 53.72%.

Analysts Set New Price Targets

TTE has been the subject of a number of research analyst reports. Scotiabank set a $65.00 price target on TotalEnergies and gave the company a "sector perform" rating in a research report on Friday, July 11th. HSBC restated a "buy" rating on shares of TotalEnergies in a research report on Tuesday, May 13th. Piper Sandler boosted their price objective on TotalEnergies from $66.00 to $68.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Sanford C. Bernstein upgraded TotalEnergies from a "market perform" rating to an "outperform" rating in a research report on Monday, June 16th. Finally, Dbs Bank upgraded TotalEnergies from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, TotalEnergies has an average rating of "Moderate Buy" and an average target price of $66.95.

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.