TotalEnergies SE (NYSE:TTE) Sees Large Growth in Short Interest

TotalEnergies SE (NYSE:TTEGet Rating) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 4,880,000 shares, an increase of 24.2% from the April 15th total of 3,930,000 shares. Based on an average daily volume of 3,350,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.2% of the shares of the stock are sold short.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its position in shares of TotalEnergies by 262,768.3% during the first quarter. BNP Paribas Arbitrage SA now owns 1,824,306 shares of the company’s stock worth $92,200,000 after buying an additional 1,823,612 shares in the last quarter. O Brien Greene & Co. Inc raised its position in shares of TotalEnergies by 2.3% during the 1st quarter. O Brien Greene & Co. Inc now owns 138,657 shares of the company’s stock worth $7,008,000 after acquiring an additional 3,151 shares in the last quarter. Virtu Financial LLC lifted its stake in TotalEnergies by 26.0% during the first quarter. Virtu Financial LLC now owns 20,006 shares of the company’s stock worth $1,011,000 after purchasing an additional 4,126 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in TotalEnergies by 20.8% in the first quarter. Advisors Asset Management Inc. now owns 81,731 shares of the company’s stock valued at $4,131,000 after purchasing an additional 14,083 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its stake in TotalEnergies by 179.3% in the first quarter. Beacon Pointe Advisors LLC now owns 24,895 shares of the company’s stock valued at $1,258,000 after purchasing an additional 15,982 shares during the last quarter. Institutional investors and hedge funds own 16.60% of the company’s stock.

TTE opened at $54.40 on Thursday. The stock’s 50-day moving average price is $50.93 and its 200 day moving average price is $51.93. TotalEnergies has a 12-month low of $40.33 and a 12-month high of $60.03. The firm has a market cap of $141.80 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.74 and a beta of 0.82. The company has a current ratio of 1.20, a quick ratio of 1.00 and a debt-to-equity ratio of 0.39.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 12th. Shareholders of record on Monday, March 21st were given a $0.544 dividend. The ex-dividend date of this dividend was Friday, March 18th. This represents a $2.18 annualized dividend and a yield of 4.00%. TotalEnergies’s dividend payout ratio is presently 32.77%.

A number of equities analysts have weighed in on TTE shares. JPMorgan Chase & Co. lowered their price objective on TotalEnergies from €58.00 ($60.42) to €56.00 ($58.33) in a research note on Wednesday, April 20th. Berenberg Bank upgraded shares of TotalEnergies from a “hold” rating to a “buy” rating in a research report on Friday, May 13th. Morgan Stanley boosted their target price on shares of TotalEnergies from €56.00 ($58.33) to €58.00 ($60.42) in a report on Wednesday, May 11th. MKM Partners lifted their price target on shares of TotalEnergies from $76.00 to $81.00 in a research report on Monday, February 14th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $64.00 price objective (down from $72.00) on shares of TotalEnergies in a research report on Thursday, April 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, TotalEnergies currently has an average rating of “Hold” and a consensus price target of $60.86.

About TotalEnergies (Get Rating)

TotalEnergies SE operates as an integrated oil and gas company worldwide. The company operates through four segments: Integrated Gas, Renewables & Power; Exploration & Production; Refining & Chemicals; and Marketing & Services. The Integrated Gas, Renewables & Power segment engages in the liquefied natural gas production, shipping, trading, and regasification activities; trading of liquefied petroleum gas (LPG), petcoke and sulfur, natural gas, and electricity; transportation of natural gas; electricity production from natural gas, wind, solar, hydroelectric, and biogas sources; energy storage activities; and development and operation of biomethane production units, as well as provides energy efficiency services.

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