Rhumbline Advisers Cuts Stock Position in TotalEnergies SE (NYSE:TTE)

Rhumbline Advisers lessened its stake in TotalEnergies SE (NYSE:TTE) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,880 shares of the company’s stock after selling 3,942 shares during the quarter. Rhumbline Advisers’ holdings in TotalEnergies were worth $1,998,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Bank of America Corp DE raised its position in shares of TotalEnergies by 121.1% in the fourth quarter. Bank of America Corp DE now owns 7,648,225 shares of the company’s stock worth $416,828,000 after buying an additional 4,189,652 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in TotalEnergies during the 4th quarter valued at about $156,044,000. Franklin Resources Inc. grew its position in TotalEnergies by 41.7% during the 4th quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock worth $309,851,000 after acquiring an additional 1,672,387 shares during the last quarter. Northern Trust Corp lifted its position in TotalEnergies by 41.7% in the fourth quarter. Northern Trust Corp now owns 1,783,017 shares of the company’s stock valued at $97,174,000 after purchasing an additional 524,314 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in TotalEnergies by 295.3% in the fourth quarter. BNP Paribas Financial Markets now owns 689,494 shares of the company’s stock valued at $37,577,000 after purchasing an additional 515,088 shares during the last quarter. Hedge funds and other institutional investors own 16.53% of the company’s stock.

Analysts Set New Price Targets

TTE has been the topic of several research analyst reports. BNP Paribas upgraded shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 15th. Morgan Stanley raised TotalEnergies from an “equal weight” rating to an “overweight” rating and set a $60.80 price target for the company in a research report on Monday, May 12th. Scotiabank reduced their price target on shares of TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Citigroup raised TotalEnergies from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 26th. Finally, Sanford C. Bernstein raised TotalEnergies from a “market perform” rating to an “outperform” rating in a report on Monday. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, TotalEnergies has a consensus rating of “Moderate Buy” and an average target price of $69.36.

TotalEnergies Price Performance

Shares of NYSE TTE opened at $62.63 on Tuesday. The firm has a 50-day simple moving average of $58.79 and a 200-day simple moving average of $58.89. The stock has a market capitalization of $150.15 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. TotalEnergies SE has a 52 week low of $52.78 and a 52 week high of $71.03.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). The business had revenue of $47.90 billion during the quarter, compared to analyst estimates of $41.23 billion. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. During the same quarter last year, the firm earned $2.14 EPS. On average, equities analysts predict that TotalEnergies SE will post 8.02 earnings per share for the current fiscal year.

TotalEnergies Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, July 11th. Stockholders of record on Thursday, June 19th will be paid a dividend of $0.7108 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a dividend yield of 4.54%. TotalEnergies’s dividend payout ratio (DPR) is 47.81%.

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.