Redburn Atlantic Upgrades TotalEnergies (NYSE:TTE) to Strong-Buy

Redburn Atlantic upgraded shares of TotalEnergies (NYSE:TTE) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Several other brokerages have also recently commented on TTE. Piper Sandler reduced their price target on shares of TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Barclays upgraded TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upgraded TotalEnergies from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 5th. Scotiabank lowered their target price on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group raised shares of TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $72.42.

TotalEnergies Price Performance

Shares of NYSE TTE opened at $58.78 on Thursday. The business has a 50 day moving average price of $56.86 and a two-hundred day moving average price of $63.25. TotalEnergies has a fifty-two week low of $53.29 and a fifty-two week high of $74.97. The firm has a market cap of $138.79 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.39.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.10). TotalEnergies had a return on equity of 15.93% and a net margin of 7.78%. The company had revenue of $52.02 billion during the quarter, compared to the consensus estimate of $57.03 billion. During the same quarter last year, the firm posted $2.63 EPS. Sell-side analysts expect that TotalEnergies will post 7.77 earnings per share for the current fiscal year.

TotalEnergies Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.8308 per share. The ex-dividend date was Tuesday, December 31st. TotalEnergies’s payout ratio is 34.04%.

Institutional Investors Weigh In On TotalEnergies

Hedge funds have recently made changes to their positions in the business. CWA Asset Management Group LLC acquired a new stake in TotalEnergies in the third quarter worth about $823,000. Crossmark Global Holdings Inc. lifted its stake in shares of TotalEnergies by 48.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 167,364 shares of the company’s stock worth $10,815,000 after acquiring an additional 54,478 shares during the period. Logan Capital Management Inc. boosted its holdings in shares of TotalEnergies by 22.8% in the third quarter. Logan Capital Management Inc. now owns 71,757 shares of the company’s stock valued at $4,637,000 after acquiring an additional 13,331 shares in the last quarter. FMR LLC increased its stake in shares of TotalEnergies by 2.7% during the third quarter. FMR LLC now owns 12,445,228 shares of the company’s stock valued at $804,211,000 after acquiring an additional 324,033 shares during the period. Finally, Equity Investment Corp raised its holdings in TotalEnergies by 2.3% during the third quarter. Equity Investment Corp now owns 1,862,312 shares of the company’s stock worth $120,343,000 after purchasing an additional 41,564 shares in the last quarter. Institutional investors own 16.53% of the company’s stock.

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.