Tidal Investments LLC Lowers Stock Holdings in TotalEnergies SE Sponsored ADR $TTE

Tidal Investments LLC lowered its position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) by 13.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 701,883 shares of the company’s stock after selling 107,855 shares during the quarter. Tidal Investments LLC’s holdings in TotalEnergies were worth $53,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTE. Integrated Wealth Concepts LLC lifted its position in TotalEnergies by 2.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 20,714 shares of the company’s stock worth $1,611,000 after buying an additional 581 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of TotalEnergies by 0.9% during the second quarter. NewEdge Advisors LLC now owns 47,262 shares of the company’s stock worth $3,675,000 after acquiring an additional 412 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of TotalEnergies by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 1,636 shares of the company’s stock worth $127,000 after acquiring an additional 262 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of TotalEnergies by 17.2% in the 2nd quarter. Baird Financial Group Inc. now owns 44,627 shares of the company’s stock worth $3,470,000 after acquiring an additional 6,540 shares during the last quarter. Finally, BayBridge Capital Group LLC boosted its stake in shares of TotalEnergies by 177.0% in the 2nd quarter. BayBridge Capital Group LLC now owns 14,151 shares of the company’s stock valued at $1,100,000 after purchasing an additional 9,043 shares in the last quarter. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on TTE shares. Wall Street Zen raised shares of TotalEnergies from a “hold” rating to a “buy” rating in a research note on Monday, August 31st. Zacks Research lowered shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Morgan Stanley set a $90.00 target price on shares of TotalEnergies and gave the company an “equal weight” rating in a research note on Thursday, September 3rd. TD Cowen boosted their price target on TotalEnergies from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, CICC Research assumed coverage on TotalEnergies in a research note on Tuesday, June 23rd. They issued an “outperform” rating on the stock. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $88.50.

TotalEnergies Stock Performance

Shares of TTE stock opened at $91.69 on Thursday. The company has a market capitalization of $219.85 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 3.07 and a beta of 0.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.06. TotalEnergies SE Sponsored ADR has a one year low of $57.39 and a one year high of $94.17. The company’s 50-day moving average is $85.43 and its 200 day moving average is $86.24.

TotalEnergies (NYSE:TTE) last issued its earnings results on Tuesday, June 30th. The company reported $2.68 earnings per share (EPS) for the quarter. The business had revenue of $57.10 billion during the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. Sell-side analysts expect that TotalEnergies SE Sponsored ADR will post 11.04 EPS for the current fiscal year.

TotalEnergies Company Profile

TotalEnergies SE (NYSE:TTE) is a French multinational energy company engaged in the production, processing and distribution of energy. Its operations span oil and natural gas exploration and production, liquefied natural gas, refining, petrochemicals, fuels, lubricants and other petroleum products.

The company is also expanding its electricity and renewable energy businesses, including solar and wind power, battery storage and electric-vehicle charging services. TotalEnergies serves customers across international markets through activities covering the energy supply chain, from upstream production to transportation, refining, marketing and power generation.

Founded in 1924 as Compagnie française des pétroles, the company operated under the Total name for many years before adopting the TotalEnergies name in 2021 to reflect its broader focus on multiple forms of energy.