TotalEnergies (NYSE:TTE) Reaches New 12-Month Low on Disappointing Earnings

TotalEnergies SE (NYSE:TTE) hit a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $56.52 and last traded at $56.85, with a volume of 2513362 shares changing hands. The stock had previously closed at $58.45.

The company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.05). The firm had revenue of $47.90 billion for the quarter, compared to the consensus estimate of $41.23 billion. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. During the same period last year, the company posted $2.14 earnings per share.

Analysts Set New Price Targets

Several research firms have issued reports on TTE. Redburn Atlantic upgraded TotalEnergies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. BNP Paribas upgraded TotalEnergies from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 15th. Citigroup raised shares of TotalEnergies from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 26th. Scotiabank dropped their price objective on shares of TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $64.10 target price (down previously from $70.40) on shares of TotalEnergies in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.42.

Hedge Funds Weigh In On TotalEnergies

Several institutional investors and hedge funds have recently modified their holdings of the business. Apollon Wealth Management LLC boosted its holdings in TotalEnergies by 4.1% in the 4th quarter. Apollon Wealth Management LLC now owns 4,448 shares of the company’s stock valued at $242,000 after purchasing an additional 174 shares during the period. First Horizon Advisors Inc. increased its stake in TotalEnergies by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 2,217 shares of the company’s stock worth $121,000 after acquiring an additional 184 shares during the period. FSM Wealth Advisors LLC increased its stake in TotalEnergies by 3.4% during the 4th quarter. FSM Wealth Advisors LLC now owns 5,635 shares of the company’s stock worth $333,000 after acquiring an additional 187 shares during the period. J2 Capital Management Inc raised its holdings in TotalEnergies by 3.3% in the 1st quarter. J2 Capital Management Inc now owns 5,954 shares of the company’s stock valued at $385,000 after acquiring an additional 191 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its position in shares of TotalEnergies by 65.8% during the 1st quarter. Financial Management Professionals Inc. now owns 484 shares of the company’s stock valued at $31,000 after acquiring an additional 192 shares during the period. 16.53% of the stock is currently owned by institutional investors and hedge funds.

TotalEnergies Stock Up 1.6 %

The stock has a 50-day moving average of $60.17 and a 200 day moving average of $59.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.88. The company has a market cap of $138.46 billion, a P/E ratio of 8.67, a PEG ratio of 0.98 and a beta of 0.45.

About TotalEnergies

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.