Agate Pass Investment Management LLC Invests $393,000 in TotalEnergies SE (NYSE:TTE)

Agate Pass Investment Management LLC acquired a new position in shares of TotalEnergies SE (NYSE:TTE) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,070 shares of the company’s stock, valued at approximately $393,000.

Other hedge funds also recently made changes to their positions in the company. Clear Creek Financial Management LLC bought a new stake in TotalEnergies in the fourth quarter worth $345,000. Franklin Resources Inc. lifted its stake in TotalEnergies by 41.7% in the fourth quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock worth $309,851,000 after purchasing an additional 1,672,387 shares during the last quarter. Barclays PLC lifted its stake in TotalEnergies by 266.5% in the third quarter. Barclays PLC now owns 674,154 shares of the company’s stock worth $43,564,000 after purchasing an additional 490,187 shares during the last quarter. Bank of Montreal Can lifted its stake in TotalEnergies by 13.9% in the fourth quarter. Bank of Montreal Can now owns 484,854 shares of the company’s stock worth $26,425,000 after purchasing an additional 59,256 shares during the last quarter. Finally, Columbus Macro LLC lifted its stake in TotalEnergies by 56.2% in the fourth quarter. Columbus Macro LLC now owns 38,206 shares of the company’s stock worth $2,082,000 after purchasing an additional 13,739 shares during the last quarter. 16.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on TTE shares. Dbs Bank raised shares of TotalEnergies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Morgan Stanley raised shares of TotalEnergies from an “equal weight” rating to an “overweight” rating and set a $60.80 price target for the company in a research note on Monday, May 12th. Scotiabank decreased their price objective on shares of TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. BNP Paribas upgraded shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 15th. Finally, Citigroup upgraded shares of TotalEnergies from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.36.

TotalEnergies Price Performance

TTE stock opened at $58.53 on Friday. TotalEnergies SE has a 12-month low of $52.78 and a 12-month high of $73.12. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $58.89 and its two-hundred day moving average price is $58.79. The stock has a market capitalization of $140.32 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 0.98 and a beta of 0.58.

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

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.