TotalEnergies (NYSE:TTE) Downgraded by Zacks Research to “Hold”

TotalEnergies (NYSE:TTE) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently commented on TTE. JPMorgan Chase & Co. raised shares of TotalEnergies from a “neutral” rating to an “overweight” rating in a report on Monday, March 2nd. Freedom Capital downgraded shares of TotalEnergies from a “strong-buy” rating to a “strong sell” rating in a report on Friday, February 13th. Kepler Capital Markets upgraded shares of TotalEnergies from a “reduce” rating to a “hold” rating in a research report on Thursday, April 23rd. Scotiabank lifted their target price on shares of TotalEnergies from $73.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded shares of TotalEnergies from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.33.

TotalEnergies Stock Down 1.5%

TTE stock opened at $90.25 on Monday. The company has a market cap of $216.39 billion, a P/E ratio of 13.37, a P/E/G ratio of 3.25 and a beta of 0.14. TotalEnergies has a 52 week low of $57.39 and a 52 week high of $94.17. The company’s 50-day moving average price is $90.33 and its 200 day moving average price is $76.93. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41.

TotalEnergies (NYSE:TTE) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.23. The firm had revenue of $49.52 billion for the quarter, compared to the consensus estimate of $44.58 billion. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. On average, research analysts expect that TotalEnergies will post 10.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TotalEnergies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTE. Amundi acquired a new position in shares of TotalEnergies in the first quarter valued at approximately $18,868,822,000. Vanguard Group Inc. acquired a new position in shares of TotalEnergies in the fourth quarter valued at approximately $5,337,330,000. Capital International Investors raised its position in shares of TotalEnergies by 1,438.5% in the fourth quarter. Capital International Investors now owns 52,668,676 shares of the company’s stock valued at $3,435,988,000 after buying an additional 49,245,192 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of TotalEnergies by 21,398.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 40,380,511 shares of the company’s stock valued at $2,641,693,000 after buying an additional 40,192,677 shares during the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new position in shares of TotalEnergies in the fourth quarter valued at approximately $1,982,676,000. Institutional investors and hedge funds own 16.53% of the company’s stock.

TotalEnergies Company Profile

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.