UBS Group Upgrades TotalEnergies (NYSE:TTE) to “Strong-Buy”

TotalEnergies (NYSE:TTE) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a research note issued on Wednesday, Zacks.com reports.

Several other research firms have also commented on TTE. TD Cowen lowered shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Wolfe Research initiated coverage on shares of TotalEnergies in a report on Thursday, July 18th. They issued an “outperform” rating and a $87.00 target price on the stock. Barclays raised shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group raised shares of TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Finally, Scotiabank reduced their price target on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, TotalEnergies has a consensus rating of “Moderate Buy” and a consensus price target of $78.75.

TotalEnergies Price Performance

NYSE:TTE opened at $68.46 on Wednesday. TotalEnergies has a 52 week low of $62.59 and a 52 week high of $74.97. The firm has a market cap of $161.66 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 1.85 and a beta of 0.63. The firm’s 50-day simple moving average is $67.76 and its 200 day simple moving average is $69.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 1.11.

TotalEnergies (NYSE:TTE) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.13). TotalEnergies had a return on equity of 17.92% and a net margin of 9.49%. The business had revenue of $53.74 billion for the quarter, compared to the consensus estimate of $60.45 billion. During the same period in the prior year, the business posted $1.99 earnings per share. As a group, sell-side analysts predict that TotalEnergies will post 8.34 earnings per share for the current year.

Institutional Investors Weigh In On TotalEnergies

Several hedge funds have recently added to or reduced their stakes in TTE. Bluefin Capital Management LLC acquired a new stake in TotalEnergies during the 4th quarter worth approximately $482,000. Voisard Asset Management Group Inc. acquired a new stake in TotalEnergies during the 4th quarter worth approximately $91,000. Sunpointe LLC acquired a new stake in TotalEnergies during the 4th quarter worth approximately $568,000. Garde Capital Inc. acquired a new stake in TotalEnergies during the 4th quarter worth approximately $118,000. Finally, Abel Hall LLC bought a new position in TotalEnergies during the 4th quarter worth approximately $510,000. 13.22% of the stock is currently owned by institutional investors and hedge funds.

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.