TotalEnergies (NYSE:TTE) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank has raised its price target for TotalEnergies (NYSE:TTE) from $65.00 to $67.00, indicating a potential upside of 13.18% from the stock's previous close.
• The stock currently holds an average rating of "Moderate Buy" with a consensus target price of $64.95, despite mixed ratings from other brokerages.
• TotalEnergies reported a net income of $44.68 billion for the last quarter, exceeding analysts' expectations, but missed the earnings per share consensus estimate by $0.05.

TotalEnergies (NYSE:TTE - Get Free Report) had its price objective hoisted by Scotiabank from $65.00 to $67.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's price objective suggests a potential upside of 13.18% from the company's previous close.

A number of other brokerages have also recently issued reports on TTE. Royal Bank Of Canada restated an "outperform" rating on shares of TotalEnergies in a report on Tuesday, September 30th. BNP Paribas cut TotalEnergies from an "outperform" rating to a "hold" rating in a report on Tuesday, September 23rd. Berenberg Bank cut TotalEnergies from a "buy" rating to a "hold" rating and set a $64.00 target price on the stock. in a report on Thursday, September 25th. Sanford C. Bernstein upgraded TotalEnergies from a "market perform" rating to an "outperform" rating in a report on Monday, June 16th. Finally, BNP Paribas Exane reiterated a "neutral" rating on shares of TotalEnergies in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.95.

TotalEnergies Trading Up 0.2%

TTE stock traded up $0.11 during midday trading on Thursday, reaching $59.20. The stock had a trading volume of 319,045 shares, compared to its average volume of 1,617,481. The company has a quick ratio of 0.81, a current ratio of 1.00 and a debt-to-equity ratio of 0.40. TotalEnergies has a twelve month low of $52.78 and a twelve month high of $68.58. The firm has a market cap of $141.94 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 1.40 and a beta of 0.53. The business has a fifty day simple moving average of $61.38 and a two-hundred day simple moving average of $60.58.

TotalEnergies (NYSE:TTE - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.57 earnings per share (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 for the quarter, compared to the consensus estimate of $42.44 billion. As a group, research analysts expect that TotalEnergies will post 8.02 EPS for the current fiscal year.

Institutional Investors Weigh In On TotalEnergies

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewSquare Capital LLC raised its position in TotalEnergies by 141.5% in the 2nd quarter. NewSquare Capital LLC now owns 495 shares of the company's stock valued at $30,000 after buying an additional 290 shares during the last quarter. Inlight Wealth Management LLC acquired a new stake in TotalEnergies in the 1st quarter valued at approximately $32,000. Costello Asset Management INC acquired a new stake in TotalEnergies in the 1st quarter valued at approximately $32,000. Trust Co. of Toledo NA OH acquired a new stake in TotalEnergies in the 2nd quarter valued at approximately $34,000. Finally, SouthState Corp raised its position in TotalEnergies by 126.1% in the 1st quarter. SouthState Corp now owns 572 shares of the company's stock valued at $37,000 after buying an additional 319 shares during the last quarter. Institutional investors and hedge funds own 16.53% of the company's stock.

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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