ZWJ Investment Counsel Inc. Reduces Position in TotalEnergies SE Sponsored ADR $TTE

Key Points

• ZWJ Investment Counsel trimmed its stake in TotalEnergies by 17.4%, selling 13,365 shares to hold 63,467 shares worth about $4.15 million at the end of the quarter.
• Analyst sentiment has seen several recent upgrades (JPMorgan, Jefferies, Zacks), though the MarketBeat consensus target is $77.54 while the stock trades near $91.02 and has a market cap of roughly $218.2 billion.

ZWJ Investment Counsel Inc. lessened its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,467 shares of the company's stock after selling 13,365 shares during the period. ZWJ Investment Counsel Inc.'s holdings in TotalEnergies were worth $4,152,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TTE. First Horizon Corp purchased a new stake in shares of TotalEnergies during the third quarter valued at $25,000. YANKCOM Partnership grew its stake in TotalEnergies by 146.8% during the 4th quarter. YANKCOM Partnership now owns 390 shares of the company's stock valued at $25,000 after purchasing an additional 232 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in TotalEnergies during the 3rd quarter valued at about $29,000. MH & Associates Securities Management Corp ADV purchased a new stake in TotalEnergies during the 4th quarter valued at about $29,000. Finally, Lodestone Wealth Management LLC purchased a new stake in TotalEnergies during the 4th quarter valued at about $32,000. 16.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TTE has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded TotalEnergies from a "neutral" rating to an "overweight" rating in a research note on Monday, March 2nd. Piper Sandler upped their target price on TotalEnergies from $74.00 to $92.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. Jefferies Financial Group upgraded TotalEnergies from a "hold" rating to a "buy" rating in a research report on Thursday, January 8th. Zacks Research upgraded TotalEnergies from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 30th. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $83.00 price objective on shares of TotalEnergies in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $77.54.

TotalEnergies Stock Performance

Shares of NYSE TTE opened at $91.02 on Wednesday. The company's fifty day moving average price is $83.21 and its 200 day moving average price is $71.01. TotalEnergies SE Sponsored ADR has a 1 year low of $56.31 and a 1 year high of $93.49. The company has a market capitalization of $218.24 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 3.99 and a beta of 0.13. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.97.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.01. TotalEnergies had a net margin of 6.52% and a return on equity of 13.14%. The business had revenue of $45.93 billion for the quarter, compared to analyst estimates of $36.69 billion. On average, research analysts predict that TotalEnergies SE Sponsored ADR will post 8.02 earnings per share for the current year.

TotalEnergies Profile

TotalEnergies SE NYSE: TTE is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.

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