TotalEnergies SE Sponsored ADR $TTE Stake Lessened by Fifth Third Bancorp

Fifth Third Bancorp trimmed its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,245 shares of the company’s stock after selling 418 shares during the quarter. Fifth Third Bancorp’s holdings in TotalEnergies were worth $997,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. grew its stake in TotalEnergies by 65.8% in the first quarter. Financial Management Professionals Inc. now owns 484 shares of the company’s stock worth $31,000 after purchasing an additional 192 shares in the last quarter. Inlight Wealth Management LLC acquired a new position in TotalEnergies in the first quarter worth $32,000. Costello Asset Management INC bought a new stake in TotalEnergies during the first quarter valued at $32,000. SouthState Corp increased its stake in TotalEnergies by 126.1% during the first quarter. SouthState Corp now owns 572 shares of the company’s stock valued at $37,000 after purchasing an additional 319 shares during the last quarter. Finally, Arlington Trust Co LLC acquired a new stake in shares of TotalEnergies during the first quarter worth $39,000. 16.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on TTE. BNP Paribas Exane reaffirmed a “neutral” rating on shares of TotalEnergies in a report on Tuesday, September 23rd. BNP Paribas downgraded TotalEnergies from an “outperform” rating to a “hold” rating in a research note on Tuesday, September 23rd. Scotiabank set a $65.00 target price on TotalEnergies and gave the company a “sector perform” rating in a report on Friday, July 11th. Piper Sandler raised their price target on TotalEnergies from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Finally, Sanford C. Bernstein upgraded TotalEnergies from a “market perform” rating to an “outperform” rating in a research report on Monday, June 16th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.45.

TotalEnergies Price Performance

Shares of NYSE TTE opened at $63.24 on Monday. The stock has a market cap of $151.63 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.50 and a beta of 0.59. The firm’s 50-day simple moving average is $61.57 and its 200 day simple moving average is $60.73. TotalEnergies SE Sponsored ADR has a fifty-two week low of $52.78 and a fifty-two week high of $69.79. The company has a quick ratio of 0.81, a current ratio of 1.00 and a debt-to-equity ratio of 0.40.

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

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.