Bank of Montreal Can lowered its stake in shares of TotalEnergies SE (NYSE:TTE – Get Rating) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 498,193 shares of the company’s stock after selling 29,869 shares during the period. Bank of Montreal Can’s holdings in TotalEnergies were worth $26,050,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in shares of TotalEnergies by 4.3% during the 1st quarter. Fisher Asset Management LLC now owns 26,050,759 shares of the company’s stock valued at $1,316,605,000 after purchasing an additional 1,081,139 shares in the last quarter. Wells Fargo & Company MN bought a new position in shares of TotalEnergies during the 4th quarter valued at about $282,309,000. Raymond James & Associates lifted its holdings in shares of TotalEnergies by 47.0% during the 1st quarter. Raymond James & Associates now owns 2,027,114 shares of the company’s stock valued at $102,450,000 after purchasing an additional 648,165 shares in the last quarter. Capital International Investors bought a new position in shares of TotalEnergies during the 4th quarter valued at about $88,439,000. Finally, Mackenzie Financial Corp bought a new position in shares of TotalEnergies during the 4th quarter valued at about $82,872,000. Institutional investors own 7.11% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on TTE. Berenberg Bank upgraded TotalEnergies from a “hold” rating to a “buy” rating in a report on Friday, May 13th. Morgan Stanley boosted their price objective on shares of TotalEnergies from €56.00 ($57.14) to €58.00 ($59.18) in a research report on Wednesday, May 11th. JPMorgan Chase & Co. raised their target price on shares of TotalEnergies from €56.00 ($57.14) to €59.00 ($60.20) in a research report on Friday, July 15th. Jefferies Financial Group upgraded shares of TotalEnergies from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, July 1st. Finally, Credit Suisse Group began coverage on TotalEnergies in a report on Thursday, June 9th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, TotalEnergies has a consensus rating of “Hold” and an average price target of $62.63.
TotalEnergies Trading Up 1.9 %
TotalEnergies (NYSE:TTE – Get Rating) last issued its earnings results on Thursday, July 28th. The company reported $3.75 EPS for the quarter, hitting the consensus estimate of $3.75. TotalEnergies had a return on equity of 25.95% and a net margin of 8.38%. The company had revenue of $74.77 billion during the quarter. Analysts expect that TotalEnergies SE will post 13.83 earnings per share for the current year.
TotalEnergies Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Tuesday, September 20th will be given a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Monday, September 19th. TotalEnergies’s payout ratio is presently 25.73%.
TotalEnergies SE operates as an integrated oil and gas company worldwide. The company operates through four segments: Integrated Gas, Renewables & Power; Exploration & Production; Refining & Chemicals; and Marketing & Services. The Integrated Gas, Renewables & Power segment engages in the liquefied natural gas production, shipping, trading, and regasification activities; trading of liquefied petroleum gas (LPG), petcoke and sulfur, natural gas, and electricity; transportation of natural gas; electricity production from natural gas, wind, solar, hydroelectric, and biogas sources; energy storage activities; and development and operation of biomethane production units, as well as provides energy efficiency services.
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