Bank of New York Mellon Corp Buys 10,097,151 Shares of TotalEnergies SE Sponsored ADR $TTE

Bank of New York Mellon Corp lifted its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) by 1,885.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,632,765 shares of the company’s stock after acquiring an additional 10,097,151 shares during the quarter. Bank of New York Mellon Corp’s holdings in TotalEnergies were worth $695,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in TTE. AQR Capital Management LLC raised its position in shares of TotalEnergies by 151.0% during the first quarter. AQR Capital Management LLC now owns 67,461 shares of the company’s stock worth $4,364,000 after acquiring an additional 40,586 shares during the last quarter. Empowered Funds LLC increased its holdings in TotalEnergies by 2.1% in the first quarter. Empowered Funds LLC now owns 40,988 shares of the company’s stock worth $2,652,000 after purchasing an additional 835 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in TotalEnergies by 17.7% in the second quarter. Sivia Capital Partners LLC now owns 5,136 shares of the company’s stock worth $315,000 after purchasing an additional 774 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in TotalEnergies by 14.9% in the second quarter. Russell Investments Group Ltd. now owns 24,274 shares of the company’s stock worth $1,490,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in TotalEnergies by 7.3% in the second quarter. Invesco Ltd. now owns 198,215 shares of the company’s stock worth $12,168,000 after purchasing an additional 13,536 shares in the last quarter. 16.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TTE. Scotiabank lifted their target price on TotalEnergies from $73.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. upgraded TotalEnergies from a “neutral” rating to an “overweight” rating in a report on Monday, March 2nd. Piper Sandler lifted their target price on TotalEnergies from $74.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Kepler Capital Markets upgraded TotalEnergies from a “reduce” rating to a “hold” rating in a report on Thursday, April 23rd. Finally, Freedom Capital downgraded TotalEnergies from a “strong-buy” rating to a “strong sell” rating in a report on Friday, February 13th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.33.

TotalEnergies Trading Up 0.6%

Shares of TotalEnergies stock opened at $89.97 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.08. TotalEnergies SE Sponsored ADR has a 52 week low of $57.39 and a 52 week high of $94.17. The stock has a 50 day moving average price of $90.46 and a two-hundred day moving average price of $77.99. The stock has a market capitalization of $215.72 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 3.18 and a beta of 0.12.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.23. The firm had revenue of $49.52 billion during the quarter, compared to analysts’ expectations of $44.58 billion. TotalEnergies had a return on equity of 14.01% and a net margin of 7.43%. As a group, equities analysts anticipate that TotalEnergies SE Sponsored ADR will post 10.58 earnings per share for the current fiscal year.

TotalEnergies Company Profile

TotalEnergies SE (NYSE: TTE) is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.