TotalEnergies (NYSE:TTE) Price Target Cut to $60.00 by Analysts at Scotiabank

by · The Markets Daily

TotalEnergies (NYSE:TTE – Get Free Report) had its target price reduced by equities researchers at Scotiabank from $65.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 6.89% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Piper Sandler decreased their price objective on shares of TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Redburn Atlantic upgraded TotalEnergies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Citigroup upgraded TotalEnergies from a “neutral” rating to a “buy” rating in a report on Wednesday, March 26th. Finally, Morgan Stanley restated an “equal weight” rating and set a $64.10 target price (down from $70.40) on shares of TotalEnergies in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.42.

Check Out Our Latest Research Report on TTE

TotalEnergies Trading Up 2.6 %

TTE stock traded up $1.41 during midday trading on Friday, hitting $56.13. 2,195,665 shares of the company’s stock were exchanged, compared to its average volume of 1,576,986. TotalEnergies has a 1-year low of $52.78 and a 1-year high of $74.97. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $134.59 billion, a PE ratio of 8.43, a P/E/G ratio of 0.98 and a beta of 0.45. The business has a 50-day simple moving average of $60.97 and a two-hundred day simple moving average of $60.41.

TotalEnergies (NYSE:TTE – Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.16. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. On average, sell-side analysts predict that TotalEnergies will post 8.02 EPS for the current fiscal year.

Institutional Trading of TotalEnergies

Several hedge funds have recently added to or reduced their stakes in TTE. Continuum Advisory LLC increased its position in shares of TotalEnergies by 70.4% in the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Asset Planning Inc acquired a new stake in TotalEnergies in the fourth quarter valued at $31,000. Financial Management Professionals Inc. raised its stake in TotalEnergies by 65.8% in the first quarter. Financial Management Professionals Inc. now owns 484 shares of the company’s stock valued at $31,000 after buying an additional 192 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in TotalEnergies during the 4th quarter worth about $32,000. Finally, HHM Wealth Advisors LLC boosted its position in shares of TotalEnergies by 156.3% during the 4th quarter. HHM Wealth Advisors LLC now owns 656 shares of the company’s stock worth $36,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 16.53% of the company’s stock.

TotalEnergies Company Profile

(Get Free Report)

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.

See Also