Wellington Management Group LLP Sells 549,186 Shares of TotalEnergies SE Sponsored ADR $TTE

Key Points

• Wellington Management Group LLP has reduced its stake in TotalEnergies SE by 6.8%, selling 549,186 shares, and now holds 7,495,811 shares valued at approximately $484.9 million.
• Multiple large investors increased their stakes in TotalEnergies, with Bank of America Corp DE leading with a 121.1% growth in holdings during the last quarter.
• TotalEnergies' recent financial performance showed a miss in EPS expectations, reporting $1.57 versus the estimated $1.62, although revenue exceeded forecasts at $44.68 billion.

Wellington Management Group LLP lessened its position in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 6.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,495,811 shares of the company's stock after selling 549,186 shares during the period. Wellington Management Group LLP owned 0.31% of TotalEnergies worth $484,904,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TTE. Bank of America Corp DE grew 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. boosted its stake in shares of 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 purchasing an additional 665,620 shares in the last quarter. Northern Trust Corp boosted its stake in shares of 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 purchasing an additional 524,314 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 515,088 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of 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 purchasing an additional 318,225 shares in the last quarter. Institutional investors own 16.53% of the company's stock.

TotalEnergies Trading Down 1.0%

NYSE:TTE opened at $61.63 on Tuesday. TotalEnergies SE Sponsored ADR has a one year low of $52.78 and a one year high of $70.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 0.81. The company's 50-day simple moving average is $61.63 and its 200 day simple moving average is $60.46. The firm has a market capitalization of $147.77 billion, a P/E ratio of 11.19, a PEG ratio of 1.08 and a beta of 0.59.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.57 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.05). The business had revenue of $44.68 billion for 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 forecast 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 payout ratio is 53.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TTE. Sanford C. Bernstein raised shares of TotalEnergies from a "market perform" rating to an "outperform" rating in a research note on Monday, June 16th. Scotiabank set a $65.00 target price on shares of TotalEnergies and gave the company a "sector perform" rating in a research note on Friday, July 11th. Morgan Stanley raised shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 target price on the stock in a research note on Monday, May 12th. Dbs Bank raised shares of TotalEnergies from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, HSBC reaffirmed a "buy" rating on shares of TotalEnergies in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.95.

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.

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