TotalEnergies (NYSE:TTE) Stock Price Expected to Rise, Scotiabank Analyst Says

TotalEnergies (NYSE:TTE) had its price objective increased by research analysts at Scotiabank from $65.00 to $67.00 in a report issued on Thursday, Marketbeat.com reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 16.58% from the stock’s previous close.

TTE has been the topic of a number of other reports. BNP Paribas downgraded shares of TotalEnergies from an “outperform” rating to a “hold” rating in a research report on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of TotalEnergies in a research report on Wednesday. Piper Sandler raised their target price on shares of TotalEnergies from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Sanford C. Bernstein upgraded shares of TotalEnergies from a “market perform” rating to an “outperform” rating in a report on Monday, June 16th. Finally, BNP Paribas Exane restated a “neutral” rating on shares of TotalEnergies in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, TotalEnergies currently has an average rating of “Moderate Buy” and a consensus target price of $64.95.

TotalEnergies Stock Performance

Shares of NYSE:TTE opened at $57.47 on Thursday. The company has a market capitalization of $137.79 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 1.38 and a beta of 0.53. The firm’s 50 day simple moving average is $61.33 and its 200 day simple moving average is $60.51. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 0.81. TotalEnergies has a fifty-two week low of $52.78 and a fifty-two week high of $68.58.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.05). The firm had revenue of $44.68 billion during the quarter, compared to analyst estimates of $42.44 billion. TotalEnergies had a net margin of 6.20% and a return on equity of 13.59%. As a group, sell-side analysts forecast that TotalEnergies will post 8.02 earnings per share for the current year.

Hedge Funds Weigh In On TotalEnergies

Hedge funds have recently made changes to their positions in the business. NewSquare Capital LLC grew its stake in shares of TotalEnergies by 141.5% during the 2nd quarter. NewSquare Capital LLC now owns 495 shares of the company’s stock worth $30,000 after acquiring an additional 290 shares in the last quarter. Inlight Wealth Management LLC bought a new position in shares of TotalEnergies during the 1st quarter worth approximately $32,000. Costello Asset Management INC bought a new position in shares of TotalEnergies during the 1st quarter worth approximately $32,000. Trust Co. of Toledo NA OH bought a new position in shares of TotalEnergies during the 2nd quarter worth approximately $34,000. Finally, SouthState Corp grew its stake in shares of TotalEnergies by 126.1% during the 1st quarter. SouthState Corp now owns 572 shares of the company’s stock worth $37,000 after acquiring an additional 319 shares in the last quarter. 16.53% of the stock is owned by institutional investors.

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.