Piper Sandler Cuts TotalEnergies (NYSE:TTE) Price Target to $62.00

TotalEnergies (NYSE:TTE) had its target price cut by Piper Sandler from $77.00 to $62.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently issued reports on TTE. Royal Bank of Canada upgraded shares of TotalEnergies from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 5th. BNP Paribas cut TotalEnergies from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a research note on Thursday, October 3rd. Scotiabank decreased their price objective on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Barclays raised shares of TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.50.

TotalEnergies Price Performance

Shares of TotalEnergies stock opened at $54.15 on Thursday. The stock has a market cap of $127.87 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 1.93 and a beta of 0.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a 50 day moving average price of $60.22 and a 200-day moving average price of $65.28. TotalEnergies has a one year low of $53.29 and a one year high of $74.97.

TotalEnergies Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a $0.8308 dividend. The ex-dividend date is Tuesday, December 31st. TotalEnergies’s payout ratio is 34.75%.

Institutional Trading of TotalEnergies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. raised its holdings in TotalEnergies by 12.4% during the third quarter. Mather Group LLC. now owns 1,312 shares of the company’s stock worth $85,000 after purchasing an additional 145 shares in the last quarter. Venturi Wealth Management LLC increased its position in TotalEnergies by 0.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 27,751 shares of the company’s stock worth $1,793,000 after purchasing an additional 165 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of TotalEnergies by 1.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,795 shares of the company’s stock worth $1,085,000 after buying an additional 169 shares in the last quarter. Tradition Wealth Management LLC lifted its holdings in shares of TotalEnergies by 2.5% in the 3rd quarter. Tradition Wealth Management LLC now owns 7,124 shares of the company’s stock valued at $460,000 after buying an additional 171 shares during the period. Finally, Lake Street Advisors Group LLC boosted its stake in shares of TotalEnergies by 2.2% in the third quarter. Lake Street Advisors Group LLC now owns 8,595 shares of the company’s stock valued at $563,000 after buying an additional 181 shares in the last quarter. 16.53% of the stock is owned by hedge funds and other institutional investors.

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.