TotalEnergies SE Sponsored ADR $TTE Shares Sold by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC has reduced its stake in TotalEnergies SE by 31.6%, now holding 9,803 shares valued at approximately $642,000.
• Several analysts have upgraded their ratings on TotalEnergies, with HSBC reaffirming a "buy" rating and Piper Sandler increasing the target price to $68.00.
• TotalEnergies reported a quarterly earnings miss with earnings per share of $1.57, below expectations of $1.62, despite revenue exceeding consensus estimates.

Cresset Asset Management LLC lowered its holdings in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 31.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,803 shares of the company's stock after selling 4,534 shares during the period. Cresset Asset Management LLC's holdings in TotalEnergies were worth $642,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TTE. Financial Management Professionals Inc. increased its position 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 acquiring an additional 192 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of TotalEnergies in the fourth quarter worth $32,000. Inlight Wealth Management LLC acquired a new stake in TotalEnergies during the 1st quarter valued at $32,000. Costello Asset Management INC acquired a new stake in TotalEnergies during the 1st quarter valued at $32,000. Finally, SouthState Corp grew its holdings in TotalEnergies by 126.1% during the 1st quarter. SouthState Corp now owns 572 shares of the company's stock valued at $37,000 after purchasing an additional 319 shares in the last quarter. Institutional investors and hedge funds own 16.53% of the company's stock.

Analyst Upgrades and Downgrades

TTE has been the subject of a number of recent analyst reports. Morgan Stanley raised shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price target for the company in a report on Monday, May 12th. HSBC reaffirmed a "buy" rating on shares of TotalEnergies in a report on Tuesday, May 13th. Sanford C. Bernstein raised shares of TotalEnergies from a "market perform" rating to an "outperform" rating in a report on Monday, June 16th. Scotiabank set a $65.00 price target on shares of TotalEnergies and gave the company a "sector perform" rating in a report on Friday, July 11th. Finally, Dbs Bank raised shares of TotalEnergies from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Three research 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 price target of $66.95.

TotalEnergies Stock Performance

Shares of NYSE TTE traded up $0.10 during midday trading on Wednesday, hitting $62.02. The company's stock had a trading volume of 896,744 shares, compared to its average volume of 1,678,627. TotalEnergies SE Sponsored ADR has a 1-year low of $52.78 and a 1-year high of $69.81. The firm's fifty day moving average price is $61.66 and its 200-day moving average price is $60.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.00. The firm has a market cap of $148.70 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.07 and a beta of 0.59.

TotalEnergies (NYSE:TTE - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.57 earnings per share 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 net margin of 6.20% and a return on equity of 13.59%. On average, sell-side analysts forecast that TotalEnergies SE Sponsored ADR will post 8.02 EPS for the current fiscal year.

TotalEnergies Cuts Dividend

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

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.