Ameriprise Financial Inc. Sells 2,285,375 Shares of TotalEnergies SE (NYSE:TTE)

Ameriprise Financial Inc. trimmed its stake in TotalEnergies SE (NYSE:TTE - Free Report) by 69.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 998,616 shares of the company's stock after selling 2,285,375 shares during the quarter. Ameriprise Financial Inc.'s holdings in TotalEnergies were worth $54,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in TTE. Raymond James Financial Inc. bought a new position in TotalEnergies during the fourth quarter valued at approximately $156,044,000. Franklin Resources Inc. raised its position in TotalEnergies by 41.7% during the fourth quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company's stock valued at $309,851,000 after acquiring an additional 1,672,387 shares in the last quarter. Northern Trust Corp raised its position in TotalEnergies by 41.7% during the fourth quarter. Northern Trust Corp now owns 1,783,017 shares of the company's stock valued at $97,174,000 after acquiring an additional 524,314 shares in the last quarter. Barclays PLC raised its position in TotalEnergies by 266.5% during the third quarter. Barclays PLC now owns 674,154 shares of the company's stock valued at $43,564,000 after acquiring an additional 490,187 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in TotalEnergies by 19.5% during the fourth quarter. Federated Hermes Inc. now owns 2,886,405 shares of the company's stock valued at $157,309,000 after acquiring an additional 471,291 shares in the last quarter. 16.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank cut their price objective on shares of TotalEnergies from $65.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Redburn Atlantic raised shares of TotalEnergies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Piper Sandler lifted their price target on shares of TotalEnergies from $62.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday. BNP Paribas raised shares of TotalEnergies from a "neutral" rating to an "outperform" rating in a research report on Tuesday, April 15th. Finally, Morgan Stanley raised shares of TotalEnergies from an "equal weight" rating to an "overweight" rating and set a $60.80 price target on the stock in a research report on Monday. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $69.36.

TotalEnergies Stock Performance

TTE traded up $1.15 during trading on Tuesday, reaching $59.85. 3,430,584 shares of the company's stock were exchanged, compared to its average volume of 1,611,653. TotalEnergies SE has a fifty-two week low of $52.78 and a fifty-two week high of $74.21. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $59.81 and a 200 day moving average price of $59.10. The company has a market capitalization of $143.50 billion, a P/E ratio of 8.99, a PEG ratio of 0.98 and a beta of 0.58.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.83 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. The business had revenue of $47.90 billion for the quarter, compared to analyst estimates of $41.23 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. As a group, analysts predict that TotalEnergies SE will post 8.02 earnings per share for the current fiscal year.

TotalEnergies 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.