Saranac Partners Ltd Buys New Stake in TotalEnergies SE Sponsored ADR $TTE

Saranac Partners Ltd purchased a new stake in TotalEnergies SE Sponsored ADR (NYSE:TTE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,620 shares of the company’s stock, valued at approximately $1,349,000.

A number of other institutional investors have also modified their holdings of TTE. Vanguard Group Inc. purchased a new stake in shares of TotalEnergies in the fourth quarter worth about $5,337,330,000. Massachusetts Financial Services Co. MA lifted its holdings in TotalEnergies by 21,398.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 40,380,511 shares of the company’s stock valued at $2,641,693,000 after acquiring an additional 40,192,677 shares during the period. Caisse Des Depots ET Consignations acquired a new position in TotalEnergies in the fourth quarter valued at approximately $1,982,676,000. Bank of America Corp DE boosted its position in TotalEnergies by 10.0% in the 2nd quarter. Bank of America Corp DE now owns 9,802,968 shares of the company’s stock worth $601,804,000 after purchasing an additional 888,574 shares in the last quarter. Finally, Bank of Italy purchased a new stake in TotalEnergies in the 4th quarter worth approximately $422,957,000. Hedge funds and other institutional investors own 16.53% of the company’s stock.

TotalEnergies Price Performance

Shares of NYSE TTE opened at $92.97 on Wednesday. The firm has a market cap of $222.92 billion, a PE ratio of 13.77, a PEG ratio of 3.32 and a beta of 0.14. The firm has a fifty day moving average of $89.27 and a 200 day moving average of $75.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.08. TotalEnergies SE Sponsored ADR has a one year low of $57.26 and a one year high of $94.17.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.23. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. The business had revenue of $49.52 billion for the quarter, compared to the consensus estimate of $44.58 billion. As a group, research analysts predict that TotalEnergies SE Sponsored ADR will post 10.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TTE has been the subject of several recent research reports. BNP Paribas Exane raised shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a report on Friday, April 17th. Piper Sandler lifted their price objective on shares of TotalEnergies from $74.00 to $92.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Weiss Ratings upgraded shares of TotalEnergies from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised shares of TotalEnergies from a “neutral” rating to an “overweight” rating in a research note on Monday, March 2nd. Finally, Morgan Stanley restated an “overweight” rating on shares of TotalEnergies in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, TotalEnergies currently has a consensus rating of “Moderate Buy” and an average target price of $84.33.

TotalEnergies Profile

TotalEnergies SE (NYSE: TTE) is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.