Bank of New York Mellon Corp Acquires 54,269 Shares of TotalEnergies SE Sponsored ADR $TTE

Bank of New York Mellon Corp increased its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 694,560 shares of the company’s stock after purchasing an additional 54,269 shares during the quarter. Bank of New York Mellon Corp’s holdings in TotalEnergies were worth $42,639,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TTE. Costello Asset Management INC purchased a new stake in TotalEnergies during the 1st quarter valued at approximately $32,000. Trust Co. of Toledo NA OH bought a new position in shares of TotalEnergies during the second quarter worth $34,000. SouthState Corp grew its stake in TotalEnergies by 126.1% during the first quarter. SouthState Corp now owns 572 shares of the company’s stock valued at $37,000 after acquiring an additional 319 shares in the last quarter. Brentview Investment Management LLC bought a new stake in TotalEnergies in the 1st quarter valued at $45,000. Finally, Financial Management Professionals Inc. lifted its stake in TotalEnergies by 49.0% in the 2nd quarter. Financial Management Professionals Inc. now owns 721 shares of the company’s stock worth $45,000 after purchasing an additional 237 shares in the last quarter. 16.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTE. BNP Paribas lowered TotalEnergies from an “outperform” rating to a “hold” rating in a research report on Tuesday, September 23rd. Loop Capital set a $73.00 price target on TotalEnergies in a research note on Monday, November 3rd. BNP Paribas Exane reaffirmed a “neutral” rating on shares of TotalEnergies in a research note on Tuesday, September 23rd. Dbs Bank downgraded TotalEnergies from a “moderate buy” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Piper Sandler raised their target price on shares of TotalEnergies from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.96.

TotalEnergies Stock Down 0.1%

NYSE TTE opened at $63.89 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.00 and a debt-to-equity ratio of 0.40. TotalEnergies SE Sponsored ADR has a 52 week low of $52.78 and a 52 week high of $65.76. The firm has a market capitalization of $153.20 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.50 and a beta of 0.50. The company has a fifty day moving average of $61.19 and a two-hundred day moving average of $60.92.

TotalEnergies (NYSE:TTE) last announced its earnings results on Thursday, October 30th. The company reported $1.77 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.04). TotalEnergies had a net margin of 6.20% and a return on equity of 13.59%. The firm had revenue of $43.84 billion during the quarter, compared to analysts’ expectations of $43.66 billion. On average, analysts predict that TotalEnergies SE Sponsored ADR will post 8.02 earnings per share for the current year.

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.