TotalEnergies SE (NYSE:TTE) Position Reduced by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in TotalEnergies SE (NYSE:TTE) by 1.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,663 shares of the company’s stock after selling 328 shares during the period. Fifth Third Bancorp’s holdings in TotalEnergies were worth $1,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TTE. Franklin Resources Inc. lifted its holdings in shares of TotalEnergies by 41.7% in the fourth quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock valued at $309,851,000 after buying an additional 1,672,387 shares during the period. Bank of Montreal Can boosted its position in shares of TotalEnergies by 13.9% during the 4th quarter. Bank of Montreal Can now owns 484,854 shares of the company’s stock valued at $26,425,000 after purchasing an additional 59,256 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of TotalEnergies by 15.7% during the 4th quarter. CIBC Asset Management Inc now owns 59,100 shares of the company’s stock valued at $3,221,000 after purchasing an additional 8,000 shares in the last quarter. Royal Bank of Canada grew its stake in shares of TotalEnergies by 10.0% in the 4th quarter. Royal Bank of Canada now owns 2,917,438 shares of the company’s stock worth $159,000,000 after purchasing an additional 265,251 shares during the last quarter. Finally, Equity Investment Corp raised its holdings in shares of TotalEnergies by 10.5% in the 4th quarter. Equity Investment Corp now owns 2,058,589 shares of the company’s stock worth $112,193,000 after purchasing an additional 196,277 shares in the last quarter. 16.53% of the stock is owned by institutional investors.

TotalEnergies Stock Performance

TTE stock 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. TotalEnergies SE has a 52 week low of $52.78 and a 52 week high of $71.03. The stock has a market cap of $150.15 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.98 and a beta of 0.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.10.

TotalEnergies (NYSE:TTE) last released its earnings results on Wednesday, April 30th. The company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. The company had revenue of $47.90 billion during the quarter, compared to analysts’ expectations of $41.23 billion. During the same quarter in the previous year, the company earned $2.14 EPS. Research analysts anticipate that TotalEnergies SE will post 8.02 earnings per share for the current fiscal year.

TotalEnergies Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TTE. BNP Paribas upgraded shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 15th. Piper Sandler increased their price target on TotalEnergies from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Sanford C. Bernstein raised shares of TotalEnergies from a “market perform” rating to an “outperform” rating in a research report on Monday. HSBC restated a “buy” rating on shares of TotalEnergies in a research report on Tuesday, May 13th. Finally, Citigroup upgraded shares of TotalEnergies from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.36.

TotalEnergies Profile

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.