TotalEnergies (NYSE:TTE) Downgraded by Berenberg Bank to “Hold”

Berenberg Bank cut shares of TotalEnergies (NYSE:TTE) from a buy rating to a hold rating in a research note released on Thursday morning, Marketbeat reports. They currently have $64.00 price target on the stock.

A number of other analysts have also recently weighed in on TTE. BNP Paribas Exane reaffirmed a “neutral” rating on shares of TotalEnergies in a research report on Tuesday. Scotiabank set a $65.00 price objective on TotalEnergies and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Sanford C. Bernstein raised TotalEnergies from a “market perform” rating to an “outperform” rating in a research report on Monday, June 16th. BNP Paribas cut TotalEnergies from an “outperform” rating to a “hold” rating in a research report on Tuesday. Finally, Piper Sandler boosted their price objective on TotalEnergies from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.36.

TotalEnergies Price Performance

Shares of NYSE:TTE opened at $62.36 on Thursday. TotalEnergies has a fifty-two week low of $52.78 and a fifty-two week high of $69.79. The business has a 50-day moving average of $61.54 and a two-hundred day moving average of $60.73. The stock has a market capitalization of $149.51 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.08 and a beta of 0.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 0.81.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.05). TotalEnergies had a return on equity of 13.59% and a net margin of 6.20%.The company had revenue of $44.68 billion during the quarter, compared to analyst estimates of $42.44 billion. On average, equities research analysts predict that TotalEnergies will post 8.02 EPS for the current fiscal year.

Hedge Funds Weigh In On TotalEnergies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in shares of TotalEnergies by 2.5% in the 1st quarter. HighTower Advisors LLC now owns 768,826 shares of the company’s stock valued at $49,735,000 after purchasing an additional 19,043 shares during the period. Sowell Financial Services LLC bought a new stake in shares of TotalEnergies in the 1st quarter valued at approximately $280,000. Leo Wealth LLC grew its stake in shares of TotalEnergies by 106.7% in the 1st quarter. Leo Wealth LLC now owns 20,931 shares of the company’s stock valued at $1,354,000 after purchasing an additional 10,805 shares during the period. Banco Santander S.A. grew its stake in shares of TotalEnergies by 26.1% in the 1st quarter. Banco Santander S.A. now owns 66,888 shares of the company’s stock valued at $4,327,000 after purchasing an additional 13,850 shares during the period. Finally, Fred Alger Management LLC grew its stake in shares of TotalEnergies by 8.1% in the 1st quarter. Fred Alger Management LLC now owns 80,432 shares of the company’s stock valued at $5,260,000 after purchasing an additional 6,044 shares during the period. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Company 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.