TotalEnergies (NYSE:TTE) Issues Quarterly Earnings Results

Key Points

• TotalEnergies reported quarterly earnings of $1.57 per share, which missed the consensus estimate of $1.62 by $0.05, despite generating revenues of $44.68 billion against an expected $42.44 billion.
• The company announced a dividend of $0.7108 per share, resulting in a yield of 4.54%, with a payout ratio of 61.71%.
• Analysts have given TotalEnergies a consensus rating of "Moderate Buy" with a target price of $66.45, following upgrades from various investment firms.

TotalEnergies (NYSE:TTE - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.05), Zacks reports. The firm 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 13.57% and a net margin of 6.20%.

TotalEnergies Price Performance

Shares of TotalEnergies stock traded up $0.01 during mid-day trading on Friday, reaching $60.45. 1,734,709 shares of the stock were exchanged, compared to its average volume of 1,307,759. The company has a market cap of $144.95 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 1.21 and a beta of 0.57. 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 50-day simple moving average of $61.04 and a 200 day simple moving average of $60.15. TotalEnergies has a fifty-two week low of $52.78 and a fifty-two week high of $70.50.

TotalEnergies Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, July 11th. Investors of record on Thursday, June 19th were given a dividend of $0.7108 per share. This represents a dividend yield of 4.54%. The ex-dividend date of this dividend was Wednesday, June 18th. TotalEnergies's dividend payout ratio (DPR) is currently 61.71%.

Analysts Set New Price Targets

Several analysts recently issued reports on TTE shares. Morgan Stanley raised shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price objective for the company in a report on Monday, May 12th. BNP Paribas upgraded shares of TotalEnergies from a "neutral" rating to an "outperform" rating in a research note on Tuesday, April 15th. Sanford C. Bernstein upgraded 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. Finally, HSBC restated a "buy" rating on shares of TotalEnergies in a research note on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.45.

Institutional Investors Weigh In On TotalEnergies

An institutional investor recently raised its position in TotalEnergies stock. AQR Capital Management LLC boosted its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 151.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,461 shares of the company's stock after acquiring an additional 40,586 shares during the quarter. AQR Capital Management LLC's holdings in TotalEnergies were worth $4,364,000 as of its most recent SEC filing. 16.53% of the stock is owned by institutional investors and hedge funds.

TotalEnergies Company 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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