TotalEnergies (NYSE:TTE) Raised to “Strong-Buy” at Redburn Atlantic

TotalEnergies (NYSE:TTE) was upgraded by investment analysts at Redburn Atlantic from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research analysts also recently weighed in on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $64.10 price target (down from $70.40) on shares of TotalEnergies in a report on Tuesday, January 7th. Scotiabank decreased their price target on TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Barclays raised shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group raised shares of TotalEnergies to a “hold” rating in a research report on Thursday, October 3rd. Finally, BNP Paribas cut shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.42.

TotalEnergies Stock Performance

Shares of TTE opened at $58.78 on Thursday. The company has a 50-day moving average of $56.86 and a two-hundred day moving average of $63.25. The stock has a market cap of $138.79 billion, a P/E ratio of 8.34, a PEG ratio of 2.01 and a beta of 0.61. TotalEnergies has a 12-month low of $53.29 and a 12-month high of $74.97. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.10). The company had revenue of $52.02 billion during the quarter, compared to analysts’ expectations of $57.03 billion. TotalEnergies had a net margin of 7.78% and a return on equity of 15.93%. During the same quarter in the prior year, the company earned $2.63 earnings per share. As a group, research analysts predict that TotalEnergies will post 7.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in shares of TotalEnergies by 62.7% in the third quarter. Franklin Resources Inc. now owns 4,012,961 shares of the company’s stock worth $273,323,000 after acquiring an additional 1,546,866 shares in the last quarter. Barclays PLC raised its holdings 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 acquiring an additional 490,187 shares in the last quarter. International Assets Investment Management LLC grew its holdings in TotalEnergies by 6,367.4% during the 3rd quarter. International Assets Investment Management LLC now owns 367,607 shares of the company’s stock worth $23,755,000 after acquiring an additional 361,923 shares in the last quarter. FMR LLC raised its stake in shares of TotalEnergies by 2.7% in the 3rd quarter. FMR LLC now owns 12,445,228 shares of the company’s stock valued at $804,211,000 after purchasing an additional 324,033 shares in the last quarter. Finally, DRW Securities LLC lifted its position in shares of TotalEnergies by 134.5% during the third quarter. DRW Securities LLC now owns 64,209 shares of the company’s stock worth $4,149,000 after purchasing an additional 250,427 shares during the last quarter. Institutional investors and hedge funds own 16.53% of the company’s stock.

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.