TotalEnergies (NYSE:TTE) Given New $68.00 Price Target at Piper Sandler

TotalEnergies (NYSE:TTE - Free Report) had its target price boosted by Piper Sandler from $65.00 to $68.00 in a report released on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research firms have also issued reports on TTE. Scotiabank reduced their target price on TotalEnergies from $65.00 to $60.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Sanford C. Bernstein raised TotalEnergies from a "market perform" rating to an "outperform" rating in a report on Monday, June 16th. Dbs Bank raised TotalEnergies from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Citigroup raised TotalEnergies from a "neutral" rating to a "buy" rating in a report on Wednesday, March 26th. Finally, Morgan Stanley raised TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 target price on the stock in a report on Monday, May 12th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $69.96.

TotalEnergies Stock Performance

TTE stock traded up $1.53 during trading hours on Wednesday, hitting $63.44. 1,389,403 shares of the stock were exchanged, compared to its average volume of 1,660,353. The company has a current ratio of 1.07, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $152.11 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.24 and a beta of 0.57. The company has a 50-day simple moving average of $59.87 and a two-hundred day simple moving average of $59.29. TotalEnergies has a 12 month low of $52.78 and a 12 month high of $71.03.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $47.90 billion for the quarter, compared to the consensus estimate of $41.23 billion. TotalEnergies had a return on equity of 14.47% and a net margin of 6.60%. During the same quarter in the previous year, the business earned $2.14 EPS. On average, analysts forecast that TotalEnergies will post 8.02 earnings per share for the current fiscal year.

TotalEnergies Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, July 11th. Investors of record on Thursday, June 19th will be paid a $0.7108 dividend. This represents a yield of 4.54%. The ex-dividend date is Wednesday, June 18th. TotalEnergies's dividend payout ratio (DPR) is presently 47.81%.

Institutional Trading of TotalEnergies

Hedge funds have recently made changes to their positions in the company. Financial Management Professionals Inc. boosted its stake in shares of TotalEnergies by 65.8% during the first quarter. Financial Management Professionals Inc. now owns 484 shares of the company's stock valued at $31,000 after purchasing an additional 192 shares in the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of TotalEnergies during the first quarter valued at about $32,000. Costello Asset Management INC acquired a new stake in shares of TotalEnergies during the first quarter valued at about $32,000. SouthState Corp boosted its stake in shares of TotalEnergies by 126.1% during the first quarter. SouthState Corp now owns 572 shares of the company's stock valued at $37,000 after purchasing an additional 319 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of TotalEnergies during the fourth quarter valued at about $32,000. 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.