Moran Wealth Management LLC Reduces Holdings in TotalEnergies SE (NYSE:TTE)

Moran Wealth Management LLC trimmed its stake in TotalEnergies SE (NYSE:TTE) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 517,691 shares of the company’s stock after selling 6,587 shares during the period. TotalEnergies accounts for about 1.1% of Moran Wealth Management LLC’s investment portfolio, making the stock its 14th biggest holding. Moran Wealth Management LLC’s holdings in TotalEnergies were worth $29,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in shares of TotalEnergies by 173.1% in the 1st quarter. NewEdge Advisors LLC now owns 27,662 shares of the company’s stock worth $1,633,000 after purchasing an additional 17,534 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of TotalEnergies by 12.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 42,906 shares of the company’s stock worth $2,473,000 after purchasing an additional 4,589 shares during the period. Perpetual Ltd purchased a new position in TotalEnergies during the 1st quarter valued at about $1,061,000. Pinnacle Associates Ltd. lifted its position in TotalEnergies by 77.8% during the 2nd quarter. Pinnacle Associates Ltd. now owns 54,722 shares of the company’s stock valued at $3,154,000 after acquiring an additional 23,938 shares during the period. Finally, Fiduciary Trust Co. lifted its position in TotalEnergies by 4.8% during the 2nd quarter. Fiduciary Trust Co. now owns 14,850 shares of the company’s stock valued at $856,000 after acquiring an additional 678 shares during the period. 6.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TTE has been the subject of a number of recent research reports. TD Cowen lowered their price target on shares of TotalEnergies from $59.00 to $58.00 and set a “market perform” rating for the company in a research report on Thursday, August 17th. Citigroup initiated coverage on shares of TotalEnergies in a research report on Wednesday, August 30th. They set a “neutral” rating for the company. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.50.

TotalEnergies Stock Up 1.5 %

NYSE:TTE traded up $0.98 on Friday, reaching $67.41. 1,175,893 shares of the stock traded hands, compared to its average volume of 1,623,258. The company has a market capitalization of $165.46 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 0.73 and a beta of 0.74. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35. TotalEnergies SE has a 12 month low of $54.94 and a 12 month high of $68.83. The company’s fifty day simple moving average is $65.96 and its 200 day simple moving average is $62.00.

TotalEnergies (NYSE:TTE) last released its quarterly earnings data on Thursday, October 26th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.13. The business had revenue of $59.02 billion during the quarter, compared to analyst estimates of $41.84 billion. TotalEnergies had a net margin of 8.10% and a return on equity of 21.81%. Equities analysts predict that TotalEnergies SE will post 9.76 EPS for the current fiscal year.

About TotalEnergies

TotalEnergies SE, a multi-energy company, produces and markets fuels, natural gas, and electricity in France, rest of Europe, North America, Africa, and internationally. It operates through Integrated Gas, Renewables & Power; Exploration & Production; Refining & Chemicals; and Marketing & Services segments.