M&T Bank Corp grew its position in shares of TotalEnergies SE (NYSE:TTE – Get Rating) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,702 shares of the company’s stock after purchasing an additional 2,321 shares during the period. M&T Bank Corp’s holdings in TotalEnergies were worth $9,058,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its holdings in shares of TotalEnergies by 21.7% in the third quarter. Captrust Financial Advisors now owns 29,039 shares of the company’s stock worth $1,351,000 after buying an additional 5,181 shares during the period. Baird Financial Group Inc. increased its holdings in shares of TotalEnergies by 2.1% in the third quarter. Baird Financial Group Inc. now owns 43,130 shares of the company’s stock worth $2,006,000 after buying an additional 902 shares during the period. Fred Alger Management LLC increased its holdings in shares of TotalEnergies by 17.2% in the third quarter. Fred Alger Management LLC now owns 42,780 shares of the company’s stock worth $1,990,000 after buying an additional 6,270 shares during the period. Jane Street Group LLC increased its holdings in shares of TotalEnergies by 32.6% in the third quarter. Jane Street Group LLC now owns 447,734 shares of the company’s stock worth $20,829,000 after buying an additional 110,168 shares during the period. Finally, Kingsview Wealth Management LLC increased its holdings in shares of TotalEnergies by 20.3% in the third quarter. Kingsview Wealth Management LLC now owns 7,052 shares of the company’s stock worth $328,000 after buying an additional 1,192 shares during the period. Institutional investors own 6.63% of the company’s stock.
Wall Street Analysts Forecast Growth
TTE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on TotalEnergies from €54.90 ($59.03) to €60.00 ($64.52) in a report on Wednesday, December 7th. Wolfe Research upgraded TotalEnergies from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Thursday, January 12th. Piper Sandler reduced their price target on TotalEnergies from $66.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, December 19th. The Goldman Sachs Group downgraded TotalEnergies from a “buy” rating to a “neutral” rating in a report on Monday, January 9th. Finally, JPMorgan Chase & Co. boosted their price target on TotalEnergies from €68.00 ($73.12) to €73.00 ($78.49) and gave the company an “overweight” rating in a report on Thursday, January 19th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.27.
TotalEnergies Stock Performance
TotalEnergies (NYSE:TTE – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.04. TotalEnergies had a return on equity of 30.48% and a net margin of 7.47%. The firm had revenue of $63.88 billion for the quarter. Equities research analysts anticipate that TotalEnergies SE will post 11.61 earnings per share for the current fiscal year.
TotalEnergies Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Tuesday, March 21st will be given a $0.543 dividend. This is a boost from TotalEnergies’s previous quarterly dividend of $0.53. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Monday, March 20th. TotalEnergies’s payout ratio is currently 27.71%.
TotalEnergies SE engages in the exploration and production of fuels, natural gas and low carbon electricity. It operates through the following business segments: Exploration & Production; Integrated Gas, Renewables & Power; Refining & Chemicals and Marketing & Services. The Exploration & Production segment encompasses oil and natural gas exploration and production activities.
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