Capital World Investors Reduces Stake in TotalEnergies SE (NYSE:TTE)

Capital World Investors lessened its stake in shares of TotalEnergies SE (NYSE:TTE) by 7.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,576 shares of the company’s stock after selling 4,048 shares during the quarter. Capital World Investors’ holdings in TotalEnergies were worth $3,619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TTE. Toronto Dominion Bank grew its position in shares of TotalEnergies by 17.5% during the 1st quarter. Toronto Dominion Bank now owns 3,444 shares of the company’s stock valued at $237,000 after purchasing an additional 514 shares in the last quarter. Capital International Investors grew its position in TotalEnergies by 2.1% during the first quarter. Capital International Investors now owns 4,858,097 shares of the company’s stock worth $334,383,000 after buying an additional 100,059 shares in the last quarter. Advisors Asset Management Inc. grew its position in TotalEnergies by 3.7% during the first quarter. Advisors Asset Management Inc. now owns 65,942 shares of the company’s stock worth $4,539,000 after buying an additional 2,372 shares in the last quarter. EP Wealth Advisors LLC increased its stake in TotalEnergies by 63.8% in the 1st quarter. EP Wealth Advisors LLC now owns 8,757 shares of the company’s stock worth $603,000 after acquiring an additional 3,411 shares during the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in shares of TotalEnergies in the 1st quarter valued at about $9,738,000. 13.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on TTE shares. Piper Sandler boosted their price objective on TotalEnergies from $75.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Scotiabank dropped their target price on shares of TotalEnergies from $86.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, Wolfe Research assumed coverage on shares of TotalEnergies in a report on Thursday, July 18th. They issued an “outperform” rating and a $87.00 price target on the stock. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, TotalEnergies currently has an average rating of “Hold” and a consensus target price of $76.00.

TotalEnergies Price Performance

Shares of TotalEnergies stock opened at $67.85 on Friday. The business’s 50-day moving average price is $68.99 and its 200-day moving average price is $68.45. The firm has a market capitalization of $160.22 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 1.67 and a beta of 0.64. TotalEnergies SE has a 12 month low of $57.97 and a 12 month high of $74.97. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.13). The business had revenue of $53.74 billion for the quarter, compared to the consensus estimate of $60.45 billion. TotalEnergies had a net margin of 9.49% and a return on equity of 17.93%. During the same quarter in the previous year, the business earned $1.99 earnings per share. Sell-side analysts forecast that TotalEnergies SE will post 9 EPS 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.