TotalEnergies (NYSE:TTE) Reaches New 12-Month Low – Here’s What Happened

TotalEnergies SE (NYSE:TTE)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $58.45 and last traded at $58.58, with a volume of 1088679 shares traded. The stock had previously closed at $59.66.

Wall Street Analysts Forecast Growth

TTE has been the topic of several recent research reports. TD Cowen lowered shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Barclays upgraded TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Scotiabank decreased their target price on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, UBS Group upgraded TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.75.

TotalEnergies Stock Down 2.3 %

The firm has a market cap of $137.58 billion, a P/E ratio of 8.46, a PEG ratio of 1.93 and a beta of 0.64. The firm’s 50-day moving average price is $64.82 and its 200 day moving average price is $67.43. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.10 and a quick ratio of 0.88.

Institutional Investors Weigh In On TotalEnergies

Several institutional investors and hedge funds have recently made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in TotalEnergies in the third quarter valued at $26,000. Continuum Advisory LLC boosted its holdings in shares of TotalEnergies by 70.4% in the third quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock worth $27,000 after buying an additional 183 shares during the period. Larson Financial Group LLC lifted its holdings in shares of TotalEnergies by 100.5% in the second quarter. Larson Financial Group LLC now owns 423 shares of the company’s stock valued at $28,000 after purchasing an additional 212 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in TotalEnergies during the 1st quarter worth about $29,000. Finally, Boit C F David acquired a new position in TotalEnergies in the 3rd quarter valued at approximately $32,000. 13.22% of the stock is owned by institutional investors and hedge funds.

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.