Bank of New York Mellon Corp Trims Holdings in TotalEnergies SE (NYSE:TTE)

Bank of New York Mellon Corp cut its position in shares of TotalEnergies SE (NYSE:TTE) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 605,608 shares of the company’s stock after selling 8,138 shares during the quarter. Bank of New York Mellon Corp’s holdings in TotalEnergies were worth $33,006,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in TotalEnergies by 10.3% in the third quarter. Van ECK Associates Corp now owns 33,828 shares of the company’s stock worth $2,185,000 after buying an additional 3,159 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of TotalEnergies during the third quarter valued at $823,000. Townsend & Associates Inc increased its holdings in shares of TotalEnergies by 16.6% during the third quarter. Townsend & Associates Inc now owns 265,996 shares of the company’s stock valued at $17,183,000 after purchasing an additional 37,778 shares during the period. Assetmark Inc. increased its holdings in shares of TotalEnergies by 11.2% during the third quarter. Assetmark Inc. now owns 151,826 shares of the company’s stock valued at $9,811,000 after purchasing an additional 15,336 shares during the period. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of TotalEnergies during the third quarter valued at $214,000. 16.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TTE has been the topic of a number of research analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $64.10 price target (down from $70.40) on shares of TotalEnergies in a report on Tuesday, January 7th. Royal Bank of Canada raised TotalEnergies from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 5th. BNP Paribas lowered TotalEnergies from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 27th. Redburn Atlantic raised TotalEnergies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Piper Sandler lowered 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 investment analysts have rated the stock with a hold rating, two have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, TotalEnergies has an average rating of “Moderate Buy” and a consensus target price of $72.42.

TotalEnergies Price Performance

Shares of TTE stock opened at $61.36 on Friday. The stock’s fifty day simple moving average is $58.86 and its 200 day simple moving average is $61.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a market cap of $147.11 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 0.98 and a beta of 0.56. TotalEnergies SE has a one year low of $53.29 and a one year high of $74.97.

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