TotalEnergies (NYSE:TTE) Downgraded to "Hold" Rating by Berenberg Bank

Key Points

• TotalEnergies has been downgraded to a "Hold" rating by Berenberg Bank, which also set a price target of $64.00 for the stock, suggesting a potential upside of 2.46% from its previous close.
• Other analysts show mixed opinions, with ratings ranging from Strong Buy to Hold, resulting in a consensus rating of "Moderate Buy" and an average target price of $66.36.
• TotalEnergies reported a quarterly earnings miss with an EPS of $1.57, below the estimated $1.62, despite a revenue of $44.68 billion, surpassing the consensus estimate.

TotalEnergies (NYSE:TTE - Get Free Report) was downgraded by investment analysts at Berenberg Bank from a "buy" rating to a "hold" rating in a research report issued on Thursday,Finviz reports. They presently have a $64.00 price target on the stock. Berenberg Bank's price target would indicate a potential upside of 2.46% from the company's previous close.

Several other brokerages also recently commented on TTE. BNP Paribas Exane reissued a "neutral" rating on shares of TotalEnergies in a research note on Tuesday. Piper Sandler raised their price objective on TotalEnergies from $66.00 to $68.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Sanford C. Bernstein raised TotalEnergies from a "market perform" rating to an "outperform" rating in a report on Monday, June 16th. BNP Paribas lowered TotalEnergies from an "outperform" rating to a "hold" rating in a research note on Tuesday. Finally, Scotiabank set a $65.00 price objective on TotalEnergies and gave the company a "sector perform" rating in a research note on Friday, July 11th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, TotalEnergies has a consensus rating of "Moderate Buy" and an average target price of $66.36.

TotalEnergies Stock Up 1.4%

Shares of NYSE TTE opened at $62.47 on Thursday. 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 has a 52 week low of $52.78 and a 52 week high of $69.79. The stock has a market capitalization of $149.77 billion, a P/E ratio of 11.34, a PEG ratio of 1.05 and a beta of 0.59. The stock's fifty day moving average is $61.53 and its 200 day moving average is $60.73.

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

Hedge Funds Weigh In On TotalEnergies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased 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 in the last quarter. Alyeska Investment Group L.P. increased 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 in the last quarter. Bank of America Corp DE increased its holdings in TotalEnergies by 10.0% in the second quarter. Bank of America Corp DE now owns 9,802,968 shares of the company's stock worth $601,804,000 after purchasing an additional 888,574 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of TotalEnergies by 23.1% during the first quarter. Federated Hermes Inc. now owns 3,552,025 shares of the company's stock valued at $229,780,000 after acquiring an additional 665,620 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of TotalEnergies by 220.3% during the second quarter. First Trust Advisors LP now owns 680,494 shares of the company's stock valued at $41,776,000 after acquiring an additional 468,053 shares in the last quarter. 16.53% of the stock is owned by institutional investors and hedge funds.

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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