Elevation Point Wealth Partners LLC Has $888,000 Stock Position in TotalEnergies SE (NYSE:TTE)

Elevation Point Wealth Partners LLC decreased its stake in TotalEnergies SE (NYSE:TTE) by 22.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,732 shares of the company’s stock after selling 4,090 shares during the period. Elevation Point Wealth Partners LLC’s holdings in TotalEnergies were worth $888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of America Corp DE lifted its position in TotalEnergies by 121.1% in the fourth quarter. Bank of America Corp DE now owns 7,648,225 shares of the company’s stock worth $416,828,000 after purchasing an additional 4,189,652 shares during the period. Franklin Resources Inc. lifted its position in TotalEnergies by 41.7% in the fourth quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock worth $309,851,000 after purchasing an additional 1,672,387 shares during the period. Royal Bank of Canada lifted its position in TotalEnergies by 10.0% in the fourth quarter. Royal Bank of Canada now owns 2,917,438 shares of the company’s stock worth $159,000,000 after purchasing an additional 265,251 shares during the period. Federated Hermes Inc. lifted its position in TotalEnergies by 19.5% in the fourth quarter. Federated Hermes Inc. now owns 2,886,405 shares of the company’s stock worth $157,309,000 after purchasing an additional 471,291 shares during the period. Finally, Raymond James Financial Inc. bought a new position in TotalEnergies in the fourth quarter worth $156,044,000. Institutional investors and hedge funds own 16.53% of the company’s stock.

TotalEnergies Price Performance

TotalEnergies stock opened at $63.48 on Friday. The firm has a market capitalization of $152.20 billion, a P/E ratio of 9.53, a PEG ratio of 0.98 and a beta of 0.56. TotalEnergies SE has a 1 year low of $52.78 and a 1 year high of $71.03. The business has a 50-day moving average of $58.60 and a 200-day moving average of $58.85. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

TotalEnergies (NYSE:TTE) last posted its earnings results on Wednesday, April 30th. The company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.05). The company had revenue of $47.90 billion for the quarter, compared to analyst estimates of $41.23 billion. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. During the same quarter in the previous year, the firm posted $2.14 earnings per share. On average, equities analysts anticipate that TotalEnergies SE will post 8.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TTE shares. Dbs Bank raised TotalEnergies from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Scotiabank lowered their target price on TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Piper Sandler raised their target price on TotalEnergies from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. BNP Paribas upgraded TotalEnergies from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley upgraded TotalEnergies from an “equal weight” rating to an “overweight” rating and set a $60.80 target price for the company in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned 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 $69.36.

TotalEnergies Company 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.