FY2024 EPS Estimates for TotalEnergies Cut by Scotiabank

TotalEnergies SE (NYSE:TTE) – Stock analysts at Scotiabank dropped their FY2024 earnings per share estimates for TotalEnergies in a research note issued on Wednesday, January 8th. Scotiabank analyst P. Cheng now anticipates that the company will post earnings per share of $7.40 for the year, down from their previous estimate of $8.50. Scotiabank currently has a “Sector Perform” rating and a $75.00 target price on the stock. The consensus estimate for TotalEnergies’ current full-year earnings is $7.94 per share. Scotiabank also issued estimates for TotalEnergies’ FY2025 earnings at $7.00 EPS.

Several other research firms have also recently weighed in on TTE. BNP Paribas cut TotalEnergies from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 27th. Royal Bank of Canada upgraded shares of TotalEnergies from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 5th. Piper Sandler cut their price objective on shares of TotalEnergies from $77.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Barclays upgraded shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, UBS Group upgraded TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.42.

TotalEnergies Stock Performance

TTE opened at $56.75 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average price is $57.44 and its two-hundred day moving average price is $63.90. The firm has a market capitalization of $134.01 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 1.93 and a beta of 0.61. TotalEnergies has a 12-month low of $53.29 and a 12-month high of $74.97.

Institutional Trading of TotalEnergies

A number of large investors have recently bought and sold shares of TTE. FSA Wealth Management LLC acquired a new stake in shares of TotalEnergies in the 3rd quarter valued at $26,000. Continuum Advisory LLC lifted its holdings in TotalEnergies by 70.4% during the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Boit C F David acquired a new position in TotalEnergies in the third quarter valued at about $32,000. Maryland Capital Advisors Inc. bought a new stake in TotalEnergies during the third quarter worth about $32,000. Finally, Eastern Bank acquired a new stake in shares of TotalEnergies during the third quarter worth approximately $32,000. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.8308 per share. The ex-dividend date of this dividend is Tuesday, December 31st. TotalEnergies’s dividend payout ratio is 34.75%.

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.