Townsend & Associates Inc Sells 27,768 Shares of TotalEnergies SE Sponsored ADR $TTE

Key Points

• Townsend & Associates Inc reduced its holdings in TotalEnergies SE by 8.4%, selling 27,768 shares, which now accounts for 1.8% of their portfolio.
• Several hedge funds, including Goldman Sachs and Alyeska Investment Group, significantly increased their holdings in TotalEnergies during the first quarter of the year.
• Research firms have mixed ratings on TotalEnergies, with new price targets set, including a boost from $66.00 to $68.00 by Piper Sandler, while BNP Paribas moved from an "outperform" to a "hold" rating.

Townsend & Associates Inc lessened its position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 8.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 304,302 shares of the company's stock after selling 27,768 shares during the period. TotalEnergies accounts for 1.8% of Townsend & Associates Inc's holdings, making the stock its 18th biggest holding. Townsend & Associates Inc's holdings in TotalEnergies were worth $18,462,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TTE. Goldman Sachs Group Inc. grew its holdings in TotalEnergies by 53.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,232,525 shares of the company's stock worth $209,112,000 after purchasing an additional 1,119,406 shares during the period. Alyeska Investment Group L.P. grew its holdings in TotalEnergies by 287.2% in the first quarter. Alyeska Investment Group L.P. now owns 1,247,765 shares of the company's stock worth $80,718,000 after purchasing an additional 925,541 shares during the period. Federated Hermes Inc. grew its holdings in TotalEnergies by 23.1% in the first quarter. Federated Hermes Inc. now owns 3,552,025 shares of the company's stock worth $229,780,000 after purchasing an additional 665,620 shares during the period. Natixis Advisors LLC grew its holdings in TotalEnergies by 17.3% in the first quarter. Natixis Advisors LLC now owns 2,160,096 shares of the company's stock worth $139,737,000 after purchasing an additional 318,225 shares during the period. Finally, GW Henssler & Associates Ltd. acquired a new stake in TotalEnergies in the first quarter worth $20,580,000. Institutional investors own 16.53% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on TTE. BNP Paribas cut shares of TotalEnergies from an "outperform" rating to a "hold" rating in a report on Tuesday, September 23rd. Berenberg Bank cut shares of TotalEnergies from a "buy" rating to a "hold" rating and set a $64.00 price target for the company. in a report on Thursday, September 25th. Piper Sandler lifted their price objective on shares of TotalEnergies from $66.00 to $68.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Scotiabank lifted their price objective on shares of TotalEnergies from $65.00 to $67.00 and gave the company a "sector perform" rating in a report on Thursday, October 9th. Finally, BNP Paribas Exane reiterated a "neutral" rating on shares of TotalEnergies in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $64.95.

TotalEnergies Stock Up 1.9%

Shares of NYSE TTE opened at $61.56 on Monday. TotalEnergies SE Sponsored ADR has a 1 year low of $52.78 and a 1 year high of $65.76. The stock has a market capitalization of $147.60 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.52 and a beta of 0.53. The company has a 50-day moving average price of $61.25 and a 200-day moving average price of $60.29. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 0.81.

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

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.

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