TotalEnergies (NYSE:TTE) Trading 3.1% Higher – Here’s Why

Shares of TotalEnergies SE (NYSE:TTE) shot up 3.1% on Wednesday . The stock traded as high as $65.54 and last traded at $65.49. 504,550 shares were traded during trading, a decline of 69% from the average session volume of 1,645,889 shares. The stock had previously closed at $63.52.

Analysts Set New Price Targets

Several research analysts recently issued reports on TTE shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $64.10 target price (down from $70.40) on shares of TotalEnergies in a research report on Tuesday, January 7th. Citigroup upgraded shares of TotalEnergies from a “neutral” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada upgraded shares of TotalEnergies from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 5th. Redburn Atlantic upgraded shares of TotalEnergies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler dropped their price objective on shares of TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.42.

TotalEnergies Price Performance

The firm has a market capitalization of $156.31 billion, a PE ratio of 9.79, a P/E/G ratio of 0.98 and a beta of 0.56. The firm’s fifty day moving average price is $60.87 and its 200 day moving average price is $61.15. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

TotalEnergies (NYSE:TTE) last posted its earnings results on Wednesday, February 5th. The company reported $1.90 earnings per share (EPS) for the quarter, beating 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 analysts forecast that TotalEnergies SE will post 8.02 earnings per share for the current year.

Institutional Trading of TotalEnergies

Hedge funds have recently modified their holdings of the stock. FSA Wealth Management LLC acquired a new position in TotalEnergies in the third quarter valued at approximately $26,000. Continuum Advisory LLC increased its holdings in shares of TotalEnergies by 70.4% during the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares in the last quarter. Asset Planning Inc acquired a new position in shares of TotalEnergies in the 4th quarter valued at $31,000. Bernard Wealth Management Corp. purchased a new stake in TotalEnergies during the fourth quarter worth $32,000. Finally, HHM Wealth Advisors LLC boosted its holdings in TotalEnergies by 156.3% during the fourth quarter. HHM Wealth Advisors LLC now owns 656 shares of the company’s stock worth $36,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 16.53% of the company’s stock.

TotalEnergies Company Profile

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.