Massachusetts Financial Services Co. MA Increases Stock Holdings in TotalEnergies SE (NYSE:TTE)

Massachusetts Financial Services Co. MA raised its position in TotalEnergies SE (NYSE:TTE) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,166 shares of the company’s stock after purchasing an additional 6,075 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in TotalEnergies were worth $8,546,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TTE. Fisher Asset Management LLC raised its position in TotalEnergies by 1.8% in the fourth quarter. Fisher Asset Management LLC now owns 21,144,503 shares of the company’s stock valued at $1,424,717,000 after purchasing an additional 379,198 shares during the period. Capital International Investors raised its holdings in TotalEnergies by 2.1% in the 1st quarter. Capital International Investors now owns 4,858,097 shares of the company’s stock valued at $334,383,000 after buying an additional 100,059 shares during the period. Goldman Sachs Group Inc. lifted its position in TotalEnergies by 3.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,592,234 shares of the company’s stock valued at $174,665,000 after buying an additional 86,642 shares during the last quarter. Natixis Advisors LLC boosted its stake in TotalEnergies by 3.4% during the second quarter. Natixis Advisors LLC now owns 2,160,603 shares of the company’s stock worth $144,069,000 after buying an additional 71,658 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of TotalEnergies by 1.5% during the first quarter. Clearbridge Investments LLC now owns 2,039,311 shares of the company’s stock valued at $140,366,000 after acquiring an additional 31,123 shares during the last quarter. Hedge funds and other institutional investors own 13.22% of the company’s stock.

Analysts Set New Price Targets

TTE has been the topic of a number of research reports. Wolfe Research started coverage on TotalEnergies in a research note on Thursday, July 18th. They set an “outperform” rating and a $87.00 price target on the stock. Scotiabank lowered their target price on TotalEnergies from $86.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday, July 12th.

TotalEnergies Stock Performance

Shares of TTE opened at $69.09 on Friday. TotalEnergies SE has a 1 year low of $62.28 and a 1 year high of $74.97. The stock has a market capitalization of $163.15 billion, a PE ratio of 7.80, a PEG ratio of 1.78 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a 50-day simple moving average of $67.90 and a 200-day simple moving average of $69.35.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.13). The firm had revenue of $53.74 billion for the quarter, compared to analyst estimates of $60.45 billion. TotalEnergies had a return on equity of 17.92% and a net margin of 9.49%. During the same quarter last year, the firm earned $1.99 EPS. On average, analysts predict that TotalEnergies SE will post 8.65 earnings per share for the current fiscal year.

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.