TotalEnergies (NYSE:TTE) Downgraded by Zacks Research to “Hold”

TotalEnergies (NYSE:TTE – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on TTE. Wall Street Zen raised shares of TotalEnergies from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup reissued a “buy” rating on shares of TotalEnergies in a research report on Thursday, February 12th. Piper Sandler raised their price objective on shares of TotalEnergies from $74.00 to $92.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Morgan Stanley reissued an “overweight” rating on shares of TotalEnergies in a research report on Tuesday, May 12th. Finally, Freedom Capital downgraded shares of TotalEnergies from a “strong-buy” rating to a “strong sell” rating in a research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.33.

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TotalEnergies Price Performance

Shares of NYSE:TTE opened at $90.25 on Monday. The company’s fifty day moving average price is $90.33 and its 200 day moving average price is $76.93. TotalEnergies has a 12 month low of $57.39 and a 12 month high of $94.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 0.85. The firm has a market capitalization of $216.39 billion, a P/E ratio of 13.37, a P/E/G ratio of 3.25 and a beta of 0.14.

TotalEnergies (NYSE:TTE – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.22 by $0.23. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. The firm had revenue of $49.52 billion for the quarter, compared to analyst estimates of $44.58 billion. As a group, sell-side analysts predict that TotalEnergies will post 10.58 earnings per share for the current fiscal year.

Institutional Trading of TotalEnergies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi purchased a new stake in shares of TotalEnergies in the first quarter valued at about $18,868,822,000. Vanguard Group Inc. purchased a new stake in shares of TotalEnergies in the fourth quarter valued at about $5,337,330,000. Capital International Investors boosted its holdings in shares of TotalEnergies by 1,438.5% in the fourth quarter. Capital International Investors now owns 52,668,676 shares of the company’s stock valued at $3,435,988,000 after acquiring an additional 49,245,192 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of TotalEnergies by 21,398.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 40,380,511 shares of the company’s stock valued at $2,641,693,000 after acquiring an additional 40,192,677 shares in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of TotalEnergies in the fourth quarter valued at about $1,982,676,000. Hedge funds and other institutional investors own 16.53% of the company’s stock.

About TotalEnergies

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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.

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