Fred Alger Management LLC Grows Position in TotalEnergies SE (NYSE:TTE)

Fred Alger Management LLC grew its stake in shares of TotalEnergies SE (NYSE:TTE) by 7.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 74,388 shares of the company’s stock after acquiring an additional 4,846 shares during the period. Fred Alger Management LLC’s holdings in TotalEnergies were worth $4,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its position in TotalEnergies by 6,367.4% during the third quarter. International Assets Investment Management LLC now owns 367,607 shares of the company’s stock worth $23,755,000 after buying an additional 361,923 shares during the period. FMR LLC boosted its stake in shares of TotalEnergies by 2.7% during the 3rd quarter. FMR LLC now owns 12,445,228 shares of the company’s stock worth $804,211,000 after acquiring an additional 324,033 shares in the last quarter. DRW Securities LLC grew its holdings in shares of TotalEnergies by 134.5% in the 3rd quarter. DRW Securities LLC now owns 64,209 shares of the company’s stock worth $4,149,000 after acquiring an additional 250,427 shares during the period. Generate Investment Management Ltd purchased a new position in TotalEnergies in the 2nd quarter valued at approximately $13,306,000. Finally, Mediolanum International Funds Ltd acquired a new position in TotalEnergies during the third quarter worth $11,504,000. 13.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a research report on Thursday, October 3rd. UBS Group upgraded shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 9th. BNP Paribas downgraded shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a report on Wednesday. Scotiabank dropped their price objective on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, Barclays raised TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 2nd. 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. According to data from MarketBeat.com, TotalEnergies has an average rating of “Moderate Buy” and an average target price of $78.75.

TotalEnergies Stock Performance

NYSE:TTE opened at $57.99 on Friday. TotalEnergies SE has a 1-year low of $56.69 and a 1-year high of $74.97. The firm has a 50 day simple moving average of $63.73 and a 200-day simple moving average of $66.96. The firm has a market cap of $136.94 billion, a PE ratio of 8.23, a P/E/G ratio of 1.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.10 and a quick ratio of 0.88.

TotalEnergies 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.