TotalEnergies (NYSE:TTE) Given New $66.00 Price Target at Piper Sandler

TotalEnergies (NYSE:TTE - Get Free Report) had its price target decreased by analysts at Piper Sandler from $68.00 to $66.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's target price would suggest a potential upside of 6.92% from the stock's previous close.

A number of other research firms have also weighed in on TTE. BNP Paribas upgraded TotalEnergies from a "neutral" rating to an "outperform" rating in a research report on Tuesday, April 15th. Sanford C. Bernstein upgraded TotalEnergies from a "market perform" rating to an "outperform" rating in a research report on Monday, June 16th. Citigroup raised TotalEnergies from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 26th. Scotiabank set a $65.00 price objective on TotalEnergies and gave the company a "sector perform" rating in a report on Friday, July 11th. Finally, Morgan Stanley raised TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price objective for the company in a research report on Monday, May 12th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.56.

TotalEnergies Stock Down 0.2%

TTE stock opened at $61.73 on Friday. The company's 50 day moving average is $60.77 and its two-hundred day moving average is $59.90. The stock has a market cap of $148.01 billion, a P/E ratio of 10.39, a PEG ratio of 1.24 and a beta of 0.57. TotalEnergies has a twelve month low of $52.78 and a twelve month high of $70.50. The company has a current ratio of 1.07, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

TotalEnergies (NYSE:TTE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). TotalEnergies had a net margin of 6.60% and a return on equity of 14.47%. The firm had revenue of $47.90 billion during the quarter, compared to analyst estimates of $41.23 billion. During the same period in the previous year, the firm posted $2.14 EPS. Research analysts expect that TotalEnergies will post 8.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TotalEnergies

Several institutional investors have recently bought and sold shares of TTE. Financial Management Professionals Inc. raised its holdings in shares of TotalEnergies by 65.8% during the first quarter. Financial Management Professionals Inc. now owns 484 shares of the company's stock worth $31,000 after purchasing an additional 192 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in TotalEnergies during the fourth quarter worth about $32,000. Inlight Wealth Management LLC acquired a new position in TotalEnergies during the first quarter worth about $32,000. Costello Asset Management INC purchased a new position in TotalEnergies in the first quarter worth approximately $32,000. Finally, SouthState Corp grew its position in TotalEnergies by 126.1% in the first quarter. SouthState Corp now owns 572 shares of the company's stock worth $37,000 after acquiring an additional 319 shares during the period. 16.53% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.