DAVENPORT & Co LLC Lowers Position in TotalEnergies SE Sponsored ADR $TTE

DAVENPORT & Co LLC decreased its position in TotalEnergies SE Sponsored ADR (NYSE:TTE) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,537 shares of the company’s stock after selling 1,738 shares during the period. DAVENPORT & Co LLC’s holdings in TotalEnergies were worth $8,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TTE. Goldman Sachs Group Inc. boosted its holdings in shares of TotalEnergies by 53.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,232,525 shares of the company’s stock valued at $209,112,000 after acquiring an additional 1,119,406 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of TotalEnergies by 287.2% in the first quarter. Alyeska Investment Group L.P. now owns 1,247,765 shares of the company’s stock valued at $80,718,000 after acquiring an additional 925,541 shares in the last quarter. Federated Hermes Inc. boosted its holdings in TotalEnergies by 23.1% during the first quarter. Federated Hermes Inc. now owns 3,552,025 shares of the company’s stock worth $229,780,000 after buying an additional 665,620 shares in the last quarter. Natixis Advisors LLC boosted its holdings in TotalEnergies by 17.3% during the first quarter. Natixis Advisors LLC now owns 2,160,096 shares of the company’s stock worth $139,737,000 after buying an additional 318,225 shares in the last quarter. Finally, GW Henssler & Associates Ltd. purchased a new stake in TotalEnergies during the first quarter worth about $20,580,000. Hedge funds and other institutional investors own 16.53% of the company’s stock.

TotalEnergies Stock Down 0.5%

Shares of NYSE TTE opened at $59.47 on Wednesday. TotalEnergies SE Sponsored ADR has a 12-month low of $52.78 and a 12-month high of $68.80. The company has a market capitalization of $142.58 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 0.81. The firm’s 50-day moving average is $61.39 and its two-hundred day moving average is $60.59.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.05). TotalEnergies had a net margin of 6.20% and a return on equity of 13.59%. The business had revenue of $44.68 billion during the quarter, compared to analysts’ expectations of $42.44 billion. Equities analysts anticipate that TotalEnergies SE Sponsored ADR will post 8.02 EPS for the current fiscal year.

Analyst Ratings Changes

TTE has been the topic of a number of research analyst reports. Sanford C. Bernstein raised shares of TotalEnergies from a “market perform” rating to an “outperform” rating in a report on Monday, June 16th. Scotiabank set a $65.00 price objective on shares of TotalEnergies and gave the stock a “sector perform” rating in a report on Friday, July 11th. Piper Sandler boosted their price objective on shares of TotalEnergies from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Weiss Ratings reissued a “hold (c)” rating on shares of TotalEnergies in a report on Saturday, September 27th. Finally, Berenberg Bank downgraded shares of TotalEnergies from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a report on Thursday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, TotalEnergies currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.45.

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.