Sanford C. Bernstein Upgrades TotalEnergies (NYSE:TTE) to “Outperform”

TotalEnergies (NYSE:TTE) was upgraded by investment analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued on Monday,Briefing.com Automated Import reports.

A number of other equities research analysts also recently weighed in on TTE. Morgan Stanley upgraded TotalEnergies from an “equal weight” rating to an “overweight” rating and set a $60.80 price target for the company in a report on Monday, May 12th. Scotiabank reduced their price objective on TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Citigroup raised TotalEnergies from a “neutral” rating to a “buy” rating in a report on Wednesday, March 26th. HSBC restated a “buy” rating on shares of TotalEnergies in a research report on Tuesday, May 13th. Finally, Dbs Bank raised TotalEnergies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

TotalEnergies Price Performance

Shares of NYSE:TTE traded down $0.39 during midday trading on Monday, reaching $63.09. 1,298,222 shares of the company’s stock traded hands, compared to its average volume of 1,637,512. TotalEnergies has a 1 year low of $52.78 and a 1 year high of $71.03. The company has a market cap of $151.26 billion, a P/E ratio of 9.47, a PEG ratio of 0.98 and a beta of 0.56. The company has a fifty day simple moving average of $58.60 and a two-hundred day simple moving average of $58.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.10.

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

Institutional Investors Weigh In On TotalEnergies

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in TotalEnergies by 121.1% in the fourth quarter. Bank of America Corp DE now owns 7,648,225 shares of the company’s stock valued at $416,828,000 after buying an additional 4,189,652 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in TotalEnergies in the 4th quarter worth approximately $156,044,000. Franklin Resources Inc. boosted its position in TotalEnergies by 41.7% in the 4th 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 in the last quarter. Goldman Sachs Group Inc. raised its holdings in TotalEnergies by 53.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,232,525 shares of the company’s stock worth $209,112,000 after purchasing an additional 1,119,406 shares during the period. Finally, Alyeska Investment Group L.P. raised its holdings in TotalEnergies by 287.2% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,247,765 shares of the company’s stock worth $80,718,000 after purchasing an additional 925,541 shares during the period. Hedge funds and other 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.