Van ECK Associates Corp Lowers Stock Position in TotalEnergies SE (NYSE:TTE)

Van ECK Associates Corp cut its stake in shares of TotalEnergies SE (NYSE:TTE) by 9.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,635 shares of the company’s stock after selling 3,193 shares during the period. Van ECK Associates Corp’s holdings in TotalEnergies were worth $1,670,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TTE. Franklin Resources Inc. grew its stake in shares of TotalEnergies by 62.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,961 shares of the company’s stock valued at $273,323,000 after buying an additional 1,546,866 shares during the period. Barclays PLC raised its position in TotalEnergies by 266.5% in the third quarter. Barclays PLC now owns 674,154 shares of the company’s stock valued at $43,564,000 after purchasing an additional 490,187 shares during the period. International Assets Investment Management LLC lifted its stake in shares of TotalEnergies by 6,367.4% during the third quarter. International Assets Investment Management LLC now owns 367,607 shares of the company’s stock worth $23,755,000 after purchasing an additional 361,923 shares in the last quarter. FMR LLC boosted its position in shares of TotalEnergies by 2.7% in the third quarter. FMR LLC now owns 12,445,228 shares of the company’s stock worth $804,211,000 after buying an additional 324,033 shares during the period. Finally, DRW Securities LLC grew its stake in shares of TotalEnergies by 134.5% in the third quarter. DRW Securities LLC now owns 64,209 shares of the company’s stock valued at $4,149,000 after buying an additional 250,427 shares in the last quarter. 16.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada upgraded TotalEnergies from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 5th. Morgan Stanley reiterated an “equal weight” rating and set a $64.10 target price (down from $70.40) on shares of TotalEnergies in a report on Tuesday, January 7th. Redburn Atlantic upgraded TotalEnergies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. BNP Paribas downgraded TotalEnergies from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 27th. Finally, Piper Sandler dropped their target price on TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, TotalEnergies currently has an average rating of “Moderate Buy” and an average price target of $72.42.

TotalEnergies Price Performance

TTE stock opened at $60.74 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. TotalEnergies SE has a 52-week low of $53.29 and a 52-week high of $74.97. The stock’s 50 day moving average is $57.74 and its two-hundred day moving average is $62.17. The company has a market capitalization of $143.42 billion, a PE ratio of 9.12, a P/E/G ratio of 0.97 and a beta of 0.61.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.16. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. Analysts predict that TotalEnergies SE will post 8.02 earnings per share for the current fiscal year.

TotalEnergies Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were given a $0.8308 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. TotalEnergies’s payout ratio is 36.79%.

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.