TotalEnergies (NYSE:TTE) Reaches New 52-Week Low – Here’s What Happened

TotalEnergies SE (NYSE:TTE)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $59.59 and last traded at $59.71, with a volume of 163189 shares trading hands. The stock had previously closed at $61.08.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group raised TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 9th. Scotiabank decreased their price objective on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Barclays upgraded shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen cut TotalEnergies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wolfe Research began coverage on TotalEnergies in a research note on Thursday, July 18th. They issued an “outperform” rating and a $87.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.75.

TotalEnergies Stock Performance

The firm’s 50-day moving average price is $65.70 and its 200 day moving average price is $68.04. The company has a market cap of $141.38 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 1.91 and a beta of 0.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Avantax Advisory Services Inc. boosted its holdings in TotalEnergies by 4.1% during the first quarter. Avantax Advisory Services Inc. now owns 28,471 shares of the company’s stock worth $1,960,000 after buying an additional 1,123 shares during the last quarter. William Blair Investment Management LLC boosted its stake in TotalEnergies by 2.4% during the 1st quarter. William Blair Investment Management LLC now owns 28,444 shares of the company’s stock worth $1,958,000 after acquiring an additional 679 shares during the last quarter. Blair William & Co. IL grew its holdings in TotalEnergies by 3.7% during the first quarter. Blair William & Co. IL now owns 71,219 shares of the company’s stock valued at $4,902,000 after purchasing an additional 2,509 shares during the period. Forum Financial Management LP increased its stake in TotalEnergies by 2.6% in the first quarter. Forum Financial Management LP now owns 60,482 shares of the company’s stock valued at $4,163,000 after purchasing an additional 1,532 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in TotalEnergies by 29.6% in the first quarter. Tocqueville Asset Management L.P. now owns 59,212 shares of the company’s stock worth $4,076,000 after purchasing an additional 13,520 shares during the period. 13.22% of the stock is currently owned by 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.