Legal & General Group Plc Takes $967.69 Million Position in TotalEnergies SE Sponsored ADR $TTE

Legal & General Group Plc purchased a new stake in TotalEnergies SE Sponsored ADR (NYSE:TTE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,822,164 shares of the company’s stock, valued at approximately $967,692,000. Legal & General Group Plc owned 0.62% of TotalEnergies as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in shares of TotalEnergies in the fourth quarter valued at approximately $5,337,330,000. 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 purchasing an additional 40,192,677 shares during the period. Caisse Des Depots ET Consignations bought a new stake in shares of TotalEnergies in the fourth quarter valued at approximately $1,982,676,000. Bank of America Corp DE raised its position in shares of TotalEnergies by 10.0% in the second quarter. Bank of America Corp DE now owns 9,802,968 shares of the company’s stock valued at $601,804,000 after purchasing an additional 888,574 shares during the period. Finally, Bank of Italy bought a new stake in shares of TotalEnergies in the fourth quarter valued at approximately $422,957,000. Institutional investors own 16.53% of the company’s stock.

TotalEnergies Price Performance

Shares of NYSE:TTE opened at $91.59 on Monday. The company has a 50 day moving average of $89.97 and a 200 day moving average of $76.51. The stock has a market cap of $219.59 billion, a P/E ratio of 13.57, a P/E/G ratio of 3.25 and a beta of 0.14. TotalEnergies SE Sponsored ADR has a 12 month low of $57.26 and a 12 month high of $94.17. 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 issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.22 by $0.23. The company had revenue of $49.52 billion during the quarter, compared to analysts’ expectations of $44.58 billion. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. As a group, sell-side analysts forecast that TotalEnergies SE Sponsored ADR will post 10.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TTE has been the topic of several research reports. BNP Paribas Exane raised shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a research report on Friday, April 17th. Kepler Capital Markets raised shares of TotalEnergies from a “reduce” rating to a “hold” rating in a research note on Thursday, April 23rd. Freedom Capital cut shares of TotalEnergies from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of TotalEnergies in a research note on Tuesday, May 12th. Finally, Scotiabank boosted their price objective on shares of TotalEnergies from $73.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, TotalEnergies currently has a consensus rating of “Moderate Buy” and an average price target of $84.33.

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.