TotalEnergies SE (NYSE:TTE) Position Boosted by Bank of America Corp DE

Bank of America Corp DE increased its holdings in TotalEnergies SE (NYSE:TTEGet Rating) by 38.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,777,519 shares of the company’s stock after purchasing an additional 2,426,252 shares during the quarter. Bank of America Corp DE’s holdings in TotalEnergies were worth $443,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Front Row Advisors LLC acquired a new stake in shares of TotalEnergies during the 4th quarter valued at $25,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of TotalEnergies during the 1st quarter valued at $25,000. Carolinas Wealth Consulting LLC acquired a new stake in shares of TotalEnergies during the 4th quarter valued at $29,000. DB Wealth Management Group LLC acquired a new stake in TotalEnergies during the 1st quarter valued at $38,000. Finally, Prestige Wealth Management Group LLC acquired a new stake in TotalEnergies during the 4th quarter valued at $37,000. 7.11% of the stock is owned by institutional investors.

TotalEnergies Stock Up 0.2 %

TTE stock opened at $50.16 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.21 and a quick ratio of 0.99. TotalEnergies SE has a 52-week low of $43.21 and a 52-week high of $61.15. The company has a 50-day moving average of $50.90 and a two-hundred day moving average of $51.98. The stock has a market capitalization of $130.75 billion, a price-to-earnings ratio of 6.36, a price-to-earnings-growth ratio of 0.46 and a beta of 0.76.

TotalEnergies (NYSE:TTEGet Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $3.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.75. TotalEnergies had a net margin of 8.38% and a return on equity of 25.95%. The company had revenue of $74.77 billion during the quarter. As a group, equities research analysts anticipate that TotalEnergies SE will post 13.93 EPS for the current year.

TotalEnergies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Tuesday, September 20th will be issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Monday, September 19th. TotalEnergies’s dividend payout ratio (DPR) is 25.73%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TTE. HSBC boosted their target price on shares of TotalEnergies from €57.00 ($58.16) to €60.00 ($61.22) and gave the company a “buy” rating in a research note on Wednesday, July 20th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft upped their price target on shares of TotalEnergies from €48.10 ($49.08) to €51.30 ($52.35) and gave the stock a “hold” rating in a research note on Wednesday, July 6th. Sanford C. Bernstein upped their price target on shares of TotalEnergies to $74.00 in a research note on Monday, July 4th. JPMorgan Chase & Co. upped their price target on shares of TotalEnergies from €56.00 ($57.14) to €59.00 ($60.20) in a research note on Friday, July 15th. Finally, Jefferies Financial Group raised shares of TotalEnergies from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.13.

TotalEnergies Profile

(Get Rating)

TotalEnergies SE operates as an integrated oil and gas company worldwide. The company operates through four segments: Integrated Gas, Renewables & Power; Exploration & Production; Refining & Chemicals; and Marketing & Services. The Integrated Gas, Renewables & Power segment engages in the liquefied natural gas production, shipping, trading, and regasification activities; trading of liquefied petroleum gas (LPG), petcoke and sulfur, natural gas, and electricity; transportation of natural gas; electricity production from natural gas, wind, solar, hydroelectric, and biogas sources; energy storage activities; and development and operation of biomethane production units, as well as provides energy efficiency services.

Read More

Want to see what other hedge funds are holding TTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TotalEnergies SE (NYSE:TTEGet Rating).

Institutional Ownership by Quarter for TotalEnergies (NYSE:TTE)

Receive News & Ratings for TotalEnergies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TotalEnergies and related companies with MarketBeat.com's FREE daily email newsletter.