Scotiabank Cuts TotalEnergies (NYSE:TTE) Price Target to $60.00

TotalEnergies (NYSE:TTE) had its target price trimmed by Scotiabank from $65.00 to $60.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other equities analysts also recently weighed in on the company. Redburn Atlantic upgraded TotalEnergies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Citigroup raised shares of TotalEnergies from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 26th. Morgan Stanley reissued an “equal weight” rating and set a $64.10 price objective (down from $70.40) on shares of TotalEnergies in a research note on Tuesday, January 7th. Finally, Piper Sandler reduced their target price on TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.42.

TotalEnergies Stock Up 2.6 %

TTE opened at $56.13 on Friday. The firm has a market cap of $134.59 billion, a P/E ratio of 8.43, a PEG ratio of 0.98 and a beta of 0.45. The business’s fifty day simple moving average is $60.91 and its 200 day simple moving average is $60.30. TotalEnergies has a 52 week low of $52.78 and a 52 week high of $74.97. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.16. TotalEnergies had a net margin of 7.34% and a return on equity of 15.22%. As a group, equities research analysts anticipate that TotalEnergies will post 8.02 EPS for the current fiscal year.

Institutional Investors Weigh In On TotalEnergies

Large investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its stake in shares of TotalEnergies by 4.1% in the fourth quarter. Apollon Wealth Management LLC now owns 4,448 shares of the company’s stock worth $242,000 after acquiring an additional 174 shares in the last quarter. Continuum Advisory LLC raised its holdings in TotalEnergies by 70.4% in the third quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of TotalEnergies by 9.1% in the 4th quarter. First Horizon Advisors Inc. now owns 2,217 shares of the company’s stock worth $121,000 after purchasing an additional 184 shares during the last quarter. FSM Wealth Advisors LLC lifted its position in shares of TotalEnergies by 3.4% during the fourth quarter. FSM Wealth Advisors LLC now owns 5,635 shares of the company’s stock worth $333,000 after purchasing an additional 187 shares during the last quarter. Finally, J2 Capital Management Inc increased its holdings in TotalEnergies by 3.3% in the first quarter. J2 Capital Management Inc now owns 5,954 shares of the company’s stock valued at $385,000 after buying an additional 191 shares during the last quarter. 16.53% of the stock is owned by institutional investors and hedge funds.

About TotalEnergies

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.