Scotiabank Increases TotalEnergies (NYSE:TTE) Price Target to $97.00

TotalEnergies (NYSE:TTE) had its price target upped by Scotiabank from $73.00 to $97.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 7.27% from the stock’s previous close.

TTE has been the subject of a number of other research reports. Zacks Research upgraded shares of TotalEnergies from a “hold” rating to a “strong-buy” rating in a report on Monday, March 30th. TD Cowen reiterated a “buy” rating on shares of TotalEnergies in a report on Monday. Morgan Stanley reiterated an “overweight” rating on shares of TotalEnergies in a report on Tuesday, January 6th. Jefferies Financial Group upgraded shares of TotalEnergies from a “hold” rating to a “buy” rating in a report on Thursday, January 8th. Finally, Citigroup reiterated a “buy” rating on shares of TotalEnergies in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.97.

TotalEnergies Trading Up 1.0%

TTE stock opened at $90.43 on Wednesday. The company’s 50-day simple moving average is $85.12 and its 200-day simple moving average is $72.24. The company has a quick ratio of 0.79, a current ratio of 0.97 and a debt-to-equity ratio of 0.42. TotalEnergies has a 52-week low of $56.31 and a 52-week high of $93.49. The firm has a market cap of $216.81 billion, a P/E ratio of 15.62, a PEG ratio of 3.89 and a beta of 0.13.

TotalEnergies (NYSE:TTE) last posted its earnings results on Wednesday, February 11th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.01. TotalEnergies had a net margin of 6.52% and a return on equity of 13.14%. The business had revenue of $45.93 billion for the quarter, compared to analyst estimates of $36.69 billion. As a group, equities analysts forecast that TotalEnergies will post 8.65 EPS for the current fiscal year.

Institutional Trading of TotalEnergies

Institutional investors have recently added to or reduced their stakes in the stock. YANKCOM Partnership boosted its position in TotalEnergies by 146.8% in the 4th quarter. YANKCOM Partnership now owns 390 shares of the company’s stock valued at $25,000 after buying an additional 232 shares during the period. First Horizon Corp purchased a new position in TotalEnergies in the 3rd quarter valued at approximately $25,000. Maseco LLP boosted its position in TotalEnergies by 119.9% in the 1st quarter. Maseco LLP now owns 420 shares of the company’s stock valued at $38,000 after buying an additional 229 shares during the period. MH & Associates Securities Management Corp ADV purchased a new position in TotalEnergies in the 4th quarter valued at approximately $29,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in TotalEnergies in the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 16.53% of the company’s stock.

About TotalEnergies

TotalEnergies SE (NYSE: TTE) is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.