Confluence Investment Management LLC Increases Stake in TotalEnergies SE (NYSE:TTE)

Confluence Investment Management LLC increased its holdings in shares of TotalEnergies SE (NYSE:TTE) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,319 shares of the company’s stock after buying an additional 231 shares during the period. Confluence Investment Management LLC’s holdings in TotalEnergies were worth $821,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its stake in TotalEnergies by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 21,184,792 shares of the company’s stock worth $1,427,431,000 after buying an additional 419,487 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of TotalEnergies by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 6,920,067 shares of the company’s stock valued at $466,274,000 after buying an additional 70,394 shares in the last quarter. Capital International Investors boosted its holdings in shares of TotalEnergies by 2.1% in the 1st quarter. Capital International Investors now owns 4,858,097 shares of the company’s stock valued at $334,383,000 after buying an additional 100,059 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of TotalEnergies by 3.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,592,234 shares of the company’s stock valued at $174,665,000 after buying an additional 86,642 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of TotalEnergies by 1.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,039,311 shares of the company’s stock valued at $140,366,000 after buying an additional 31,123 shares in the last quarter. 13.22% of the stock is owned by hedge funds and other institutional investors.

TotalEnergies Stock Performance

TotalEnergies stock traded down $0.37 during trading hours on Friday, reaching $66.56. 1,572,668 shares of the stock were exchanged, compared to its average volume of 1,100,544. The stock has a market cap of $157.18 billion, a P/E ratio of 7.51, a P/E/G ratio of 1.70 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 1.11. TotalEnergies SE has a 52-week low of $58.53 and a 52-week high of $74.97. The firm’s 50 day moving average is $68.58 and its 200 day moving average is $68.51.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.13). The firm had revenue of $53.74 billion for the quarter, compared to analysts’ expectations of $60.45 billion. TotalEnergies had a return on equity of 17.92% and a net margin of 9.49%. During the same quarter in the previous year, the company posted $1.99 EPS. Analysts predict that TotalEnergies SE will post 8.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler upped their price target on shares of TotalEnergies from $75.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Wolfe Research assumed coverage on shares of TotalEnergies in a research report on Thursday, July 18th. They issued an “outperform” rating and a $87.00 price target for the company. Finally, Scotiabank reduced their price target on shares of TotalEnergies from $86.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, TotalEnergies currently has an average rating of “Hold” and an average price target of $76.00.

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.