TotalEnergies (NYSE:TTE) Price Target Raised to $68.00 at Piper Sandler

TotalEnergies (NYSE:TTE) had its target price hoisted by investment analysts at Piper Sandler from $65.00 to $68.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price indicates a potential upside of 7.75% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Citigroup raised shares of TotalEnergies from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 26th. Dbs Bank upgraded shares of TotalEnergies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Sanford C. Bernstein upgraded TotalEnergies from a “market perform” rating to an “outperform” rating in a research note on Monday, June 16th. Scotiabank reduced their price target on shares of TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Finally, HSBC reissued a “buy” rating on shares of TotalEnergies in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, TotalEnergies has a consensus rating of “Moderate Buy” and an average price target of $69.96.

TotalEnergies Price Performance

NYSE:TTE opened at $63.11 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.07. TotalEnergies has a one year low of $52.78 and a one year high of $71.03. The firm’s fifty day moving average is $59.95 and its two-hundred day moving average is $59.35. The firm has a market cap of $151.32 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.27 and a beta of 0.57.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The business had revenue of $47.90 billion during the quarter, compared to analysts’ expectations of $41.23 billion. TotalEnergies had a net margin of 6.60% and a return on equity of 14.47%. During the same quarter last year, the firm earned $2.14 earnings per share. Research analysts expect that TotalEnergies will post 8.02 EPS for the current year.

Hedge Funds Weigh In On TotalEnergies

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of TotalEnergies by 121.1% during the 4th quarter. Bank of America Corp DE now owns 7,648,225 shares of the company’s stock worth $416,828,000 after purchasing an additional 4,189,652 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of TotalEnergies by 41.7% in the 4th quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock worth $309,851,000 after purchasing an additional 1,672,387 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of TotalEnergies by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,303,052 shares of the company’s stock worth $278,366,000 after buying an additional 169,435 shares during the period. Federated Hermes Inc. grew its holdings in TotalEnergies by 23.1% during the 1st quarter. Federated Hermes Inc. now owns 3,552,025 shares of the company’s stock valued at $229,780,000 after purchasing an additional 665,620 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake 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 worth $209,112,000 after buying an additional 1,119,406 shares during the last quarter. 16.53% of the stock is owned by hedge funds and other institutional investors.

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.