Logan Capital Management Inc. boosted its holdings in TotalEnergies SE (NYSE:TTE – Get Rating) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,557 shares of the company’s stock after buying an additional 1,972 shares during the quarter. Logan Capital Management Inc.’s holdings in TotalEnergies were worth $2,656,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC grew its position in TotalEnergies by 4.3% in the first quarter. Fisher Asset Management LLC now owns 26,050,759 shares of the company’s stock worth $1,316,605,000 after buying an additional 1,081,139 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in TotalEnergies by 40.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,350,544 shares of the company’s stock worth $320,956,000 after purchasing an additional 1,823,670 shares during the period. Wells Fargo & Company MN acquired a new position in TotalEnergies in the 4th quarter worth approximately $282,309,000. Clearbridge Investments LLC boosted its stake in TotalEnergies by 19.0% in the 1st quarter. Clearbridge Investments LLC now owns 2,242,875 shares of the company’s stock worth $113,355,000 after purchasing an additional 357,590 shares during the period. Finally, Raymond James & Associates boosted its stake in TotalEnergies by 47.0% in the 1st quarter. Raymond James & Associates now owns 2,027,114 shares of the company’s stock worth $102,450,000 after purchasing an additional 648,165 shares during the period. Institutional investors and hedge funds own 7.11% of the company’s stock.
TotalEnergies Price Performance
Shares of TTE opened at $50.68 on Friday. The firm has a market cap of $132.10 billion, a PE ratio of 6.42, a PEG ratio of 0.47 and a beta of 0.76. The firm’s 50 day moving average price is $50.93 and its 200 day moving average price is $52.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.21. TotalEnergies SE has a twelve month low of $43.21 and a twelve month high of $61.15.
TotalEnergies Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Tuesday, September 20th will be issued a dividend of $0.505 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $2.02 annualized dividend and a yield of 3.99%. TotalEnergies’s dividend payout ratio (DPR) is presently 25.73%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. HSBC raised their price objective on shares of TotalEnergies from €57.00 ($58.16) to €60.00 ($61.22) and gave the stock a “buy” rating in a research note on Wednesday, July 20th. They noted that the move was a valuation call. Credit Suisse Group assumed coverage on shares of TotalEnergies in a research note on Thursday, June 9th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of TotalEnergies from €56.00 ($57.14) to €59.00 ($60.20) in a research note on Friday, July 15th. Sanford C. Bernstein lifted their target price on shares of TotalEnergies to $74.00 in a research note on Monday, July 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of TotalEnergies from €48.10 ($49.08) to €51.30 ($52.35) and gave the company a “hold” rating in a research note on Wednesday, July 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.63.
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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