TotalEnergies (NYSE:TTE) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of TotalEnergies (NYSE:TTE) from an overweight rating to a neutral rating in a report published on Wednesday, MarketBeat.com reports.

A number of other analysts have also recently issued reports on TTE. Weiss Ratings raised TotalEnergies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Mizuho initiated coverage on TotalEnergies in a research note on Monday, July 20th. They issued an “outperform” rating and a $103.00 price objective for the company. TD Cowen boosted their price objective on TotalEnergies from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Piper Sandler increased their price objective on TotalEnergies from $84.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Finally, CICC Research started coverage on shares of TotalEnergies in a research report on Tuesday, June 23rd. They set an “outperform” rating on the stock. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

TotalEnergies Price Performance

Shares of TTE opened at $90.99 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.06 and a quick ratio of 0.85. TotalEnergies has a 1-year low of $57.39 and a 1-year high of $94.17. The stock has a market cap of $218.17 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 3.05 and a beta of 0.13. The firm has a fifty day moving average price of $88.41 and a 200 day moving average price of $87.24.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $2.68 earnings per share (EPS) for the quarter. TotalEnergies had a return on equity of 15.66% and a net margin of 8.29%.The company had revenue of $57.10 billion for the quarter. As a group, sell-side analysts anticipate that TotalEnergies will post 11.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TTE. Amundi purchased a new position in TotalEnergies in the 1st quarter valued at $18,868,822,000. Capital International Investors increased its stake in TotalEnergies by 1,438.5% in the 4th quarter. Capital International Investors now owns 52,668,676 shares of the company’s stock valued at $3,435,988,000 after buying an additional 49,245,192 shares during the period. Norges Bank purchased a new position in TotalEnergies during the 4th quarter worth $1,917,626,000. DekaBank Deutsche Girozentrale purchased a new position in TotalEnergies during the 1st quarter worth $1,103,799,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of TotalEnergies by 8.3% in the 1st quarter. Bank of New York Mellon Corp now owns 11,514,654 shares of the company’s stock worth $1,047,603,000 after acquiring an additional 881,889 shares during the period. Institutional investors and hedge funds own 16.53% of the company’s stock.

About TotalEnergies

TotalEnergies SE (NYSE:TTE) is a French multinational energy company engaged in the production, processing and distribution of energy. Its operations span oil and natural gas exploration and production, liquefied natural gas, refining, petrochemicals, fuels, lubricants and other petroleum products.

The company is also expanding its electricity and renewable energy businesses, including solar and wind power, battery storage and electric-vehicle charging services. TotalEnergies serves customers across international markets through activities covering the energy supply chain, from upstream production to transportation, refining, marketing and power generation.

Founded in 1924 as Compagnie française des pétroles, the company operated under the Total name for many years before adopting the TotalEnergies name in 2021 to reflect its broader focus on multiple forms of energy.