32,497 Shares of TotalEnergies SE Sponsored ADR $TTE Purchased by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. acquired a new position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,497 shares of the company’s stock, valued at approximately $2,778,000.

A number of other hedge funds also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of TotalEnergies by 1.1% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,919,591 shares of the company’s stock valued at $165,186,000 after acquiring an additional 20,305 shares during the period. Profund Advisors LLC lifted its position in shares of TotalEnergies by 12.1% in the 3rd quarter. Profund Advisors LLC now owns 13,001 shares of the company’s stock valued at $1,112,000 after acquiring an additional 1,399 shares in the last quarter. Vise Technologies Inc. lifted its position in shares of TotalEnergies by 9.8% in the 3rd quarter. Vise Technologies Inc. now owns 20,688 shares of the company’s stock valued at $1,769,000 after acquiring an additional 1,849 shares in the last quarter. Global Assets Advisory LLC lifted its position in shares of TotalEnergies by 2.2% in the 3rd quarter. Global Assets Advisory LLC now owns 8,163 shares of the company’s stock valued at $691,000 after acquiring an additional 172 shares in the last quarter. Finally, Summit Global Investments boosted its stake in TotalEnergies by 1.9% in the 3rd quarter. Summit Global Investments now owns 15,105 shares of the company’s stock worth $1,291,000 after purchasing an additional 288 shares during the period. 16.53% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting TotalEnergies

Here are the key news stories impacting TotalEnergies this week:

• Positive Sentiment: Malaysia gas expansion: TotalEnergies agreed to acquire a 30% operated interest in Malaysia’s Lang Lebah and B14 offshore gas fields from PETRONAS, PTTEP and KUFPEC. The integrated development is expected to unlock more than 6.5 trillion cubic feet of gas resources, strengthening the company’s long-term upstream portfolio and exposure to Asian energy demand. Malaysia: TotalEnergies Signs Agreements to Acquire Operated Interest in Two Major Offshore Gas Fields
• Positive Sentiment: U.S. renewables opportunity: CEO Patrick Pouyanne said TotalEnergies is increasing renewable-energy spending in the United States while some competitors exit. This could allow the company to acquire projects or market share at more attractive valuations, although returns will depend on execution and power-market conditions. TotalEnergies spending more on US renewables as others exit, says CEO
• Neutral Sentiment: Energy outlook and transition: TotalEnergies published its annual Energy Outlook through 2060, highlighting both continued energy demand and the need for decarbonization. Management also said the Iran conflict could accelerate the energy transition, potentially benefiting renewables over time but increasing geopolitical and commodity-market uncertainty in the near term. TotalEnergies Publishes its Annual Report on Scenarios for the Evolution of the Global Energy System
• Negative Sentiment: European gas pricing risk: The CEO expects Europe to avoid a physical gas shortage this winter, but said the region may have to pay more to secure adequate supplies. Higher procurement costs could pressure consumers and create volatility in gas markets, while the absence of a shortage may limit extreme price upside for gas producers. TotalEnergies chief sees no gas shortage Europe this winter

Analyst Ratings Changes

Several equities analysts have weighed in on TTE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of TotalEnergies in a research report on Thursday, October 22nd. Barclays reissued an “overweight” rating on shares of TotalEnergies in a research note on Monday, October 5th. Morgan Stanley lowered TotalEnergies from an “overweight” rating to an “equal weight” rating and set a $90.00 target price for the company. in a report on Thursday, September 3rd. Wall Street Zen raised TotalEnergies from a “hold” rating to a “buy” rating in a research report on Monday, August 31st. Finally, Piper Sandler lifted their price target on TotalEnergies from $84.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, TotalEnergies presently has an average rating of “Moderate Buy” and an average price target of $96.00.

TotalEnergies Price Performance

Shares of TTE opened at $92.70 on Tuesday. The business’s 50-day moving average is $89.62 and its 200-day moving average is $85.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.06 and a quick ratio of 0.85. The company has a market capitalization of $222.26 billion, a price-to-earnings ratio of 9.26 and a beta of 0.17. TotalEnergies SE Sponsored ADR has a fifty-two week low of $60.85 and a fifty-two week high of $95.78.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings results on Thursday, October 29th. The company reported $4.03 EPS for the quarter, topping the consensus estimate of $3.84 by $0.19. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. The business had revenue of $61.86 billion during the quarter, compared to analysts’ expectations of $55.39 billion. Equities research analysts expect that TotalEnergies SE Sponsored ADR will post 12.70 EPS for the current fiscal year.

TotalEnergies Profile

TotalEnergies SE is a French multinational energy company that explores for, produces, processes and markets oil and natural gas. Established in 1924 as the Compagnie française des pétroles, the company adopted the TotalEnergies name in 2021 to reflect its broader focus on multiple forms of energy.

The company’s activities include liquefied natural gas, refining and petrochemicals, fuels, lubricants, and the operation of service stations. TotalEnergies also develops and sells electricity from renewable and other power-generation sources, including solar and wind projects, as well as energy-storage and electric-vehicle charging solutions.

TotalEnergies serves customers and operates projects across numerous regions, including Europe, Africa, the Middle East, the Americas and the Asia-Pacific region.