Scotiabank Cuts TotalEnergies (NYSE:TTE) Price Target to $75.00

TotalEnergies (NYSE:TTE) had its price target cut by Scotiabank from $80.00 to $75.00 in a report released on Thursday, Benzinga reports. They currently have a sector perform rating on the stock.

TTE has been the topic of a number of other reports. TD Cowen lowered shares of TotalEnergies from a strong-buy rating to a hold rating in a research note on Monday, September 30th. Wolfe Research assumed coverage on TotalEnergies in a research note on Thursday, July 18th. They set an outperform rating and a $87.00 price target for the company. Barclays raised TotalEnergies to a strong-buy rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group raised TotalEnergies to a hold rating in a research note on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $78.75.

TotalEnergies Stock Down 0.4 %

Shares of NYSE:TTE opened at $68.18 on Thursday. The company has a market capitalization of $161.00 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 1.85 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 0.87. The business’s 50-day moving average is $67.76 and its 200-day moving average is $69.39. TotalEnergies has a 1 year low of $62.59 and a 1 year high of $74.97.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.13). The firm had revenue of $53.74 billion during the quarter, compared to the consensus estimate of $60.45 billion. TotalEnergies had a return on equity of 17.92% and a net margin of 9.49%. During the same quarter in the previous year, the company posted $1.99 EPS. Equities research analysts predict that TotalEnergies will post 8.34 earnings per share for the current year.

Institutional Trading of TotalEnergies

Institutional investors and hedge funds have recently modified their holdings of the stock. Mather Group LLC. increased its position in shares of TotalEnergies by 12.4% during the third quarter. Mather Group LLC. now owns 1,312 shares of the company’s stock valued at $85,000 after acquiring an additional 145 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of TotalEnergies by 3.6% during the first quarter. Geneos Wealth Management Inc. now owns 4,379 shares of the company’s stock valued at $301,000 after acquiring an additional 153 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of TotalEnergies by 5.1% during the second quarter. Hexagon Capital Partners LLC now owns 3,406 shares of the company’s stock valued at $227,000 after acquiring an additional 164 shares during the last quarter. Opal Wealth Advisors LLC increased its position in shares of TotalEnergies by 17.0% during the second quarter. Opal Wealth Advisors LLC now owns 1,285 shares of the company’s stock valued at $86,000 after acquiring an additional 187 shares during the last quarter. Finally, Delta Financial Group Inc. increased its position in shares of TotalEnergies by 3.1% during the first quarter. Delta Financial Group Inc. now owns 6,250 shares of the company’s stock valued at $430,000 after acquiring an additional 190 shares during the last quarter. 13.22% of the stock is owned by hedge funds and other institutional investors.

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.