Ballentine Partners LLC Reduces Position in TotalEnergies SE Sponsored ADR (NYSE:TTE)

Ballentine Partners LLC lessened its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,803 shares of the company’s stock after selling 1,353 shares during the period. Ballentine Partners LLC’s holdings in TotalEnergies were worth $958,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Bank of America Corp DE grew its stake in TotalEnergies by 121.1% during the 4th quarter. Bank of America Corp DE now owns 7,648,225 shares of the company’s stock valued at $416,828,000 after acquiring an additional 4,189,652 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of TotalEnergies by 41.7% in the 4th quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock valued at $309,851,000 after buying an additional 1,672,387 shares during the period. Royal Bank of Canada grew its stake in shares of TotalEnergies by 10.0% in the 4th quarter. Royal Bank of Canada now owns 2,917,438 shares of the company’s stock valued at $159,000,000 after buying an additional 265,251 shares during the period. Federated Hermes Inc. grew its stake in shares of TotalEnergies by 19.5% in the 4th quarter. Federated Hermes Inc. now owns 2,886,405 shares of the company’s stock valued at $157,309,000 after buying an additional 471,291 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of TotalEnergies by 8.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,859,047 shares of the company’s stock valued at $184,952,000 after buying an additional 210,566 shares during the period. Hedge funds and other institutional investors own 16.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TTE. 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 dropped their price target on shares of TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Dbs Bank raised shares of TotalEnergies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Piper Sandler increased their price target on shares of TotalEnergies from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Citigroup raised shares of TotalEnergies from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 26th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.96.

TotalEnergies Stock Performance

NYSE:TTE opened at $63.00 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.07. The stock has a market capitalization of $151.05 billion, a P/E ratio of 10.61, a PEG ratio of 1.26 and a beta of 0.57. The company has a 50 day moving average price of $60.40 and a 200 day moving average price of $59.77. TotalEnergies SE Sponsored ADR has a fifty-two week low of $52.78 and a fifty-two week high of $70.50.

TotalEnergies (NYSE:TTE) last released its earnings results on Wednesday, April 30th. The company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The business had revenue of $47.90 billion for the quarter, compared to analyst estimates of $41.23 billion. TotalEnergies had a return on equity of 14.47% and a net margin of 6.60%. During the same quarter last year, the company earned $2.14 earnings per share. Equities research analysts forecast that TotalEnergies SE Sponsored ADR will post 8.02 EPS for the current year.

TotalEnergies Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, July 11th. Shareholders of record on Thursday, June 19th were issued a dividend of $0.7108 per share. The ex-dividend date was Wednesday, June 18th. This represents a yield of 4.54%. TotalEnergies’s dividend payout ratio (DPR) is presently 49.83%.

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.