Franklin Resources Inc. Buys 1,672,387 Shares of TotalEnergies SE (NYSE:TTE)

Franklin Resources Inc. increased its stake in TotalEnergies SE (NYSE:TTE) by 41.7% during the fourth quarter, Holdings Channel reports. The firm owned 5,685,348 shares of the company’s stock after acquiring an additional 1,672,387 shares during the period. Franklin Resources Inc.’s holdings in TotalEnergies were worth $309,851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC increased its holdings in TotalEnergies by 1.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,795 shares of the company’s stock valued at $1,085,000 after buying an additional 169 shares during the period. Apollon Wealth Management LLC boosted its position in shares of TotalEnergies by 4.1% during the 4th quarter. Apollon Wealth Management LLC now owns 4,448 shares of the company’s stock worth $242,000 after acquiring an additional 174 shares in the last quarter. Continuum Advisory LLC increased its stake in TotalEnergies by 70.4% in the third quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares during the last quarter. First Horizon Advisors Inc. raised its position in TotalEnergies by 9.1% during the fourth quarter. First Horizon Advisors Inc. now owns 2,217 shares of the company’s stock valued at $121,000 after purchasing an additional 184 shares in the last quarter. Finally, FSM Wealth Advisors LLC lifted its stake in TotalEnergies by 3.4% during the fourth quarter. FSM Wealth Advisors LLC now owns 5,635 shares of the company’s stock worth $333,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 16.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TTE. Morgan Stanley reiterated an “equal weight” rating and issued a $64.10 price target (down previously from $70.40) on shares of TotalEnergies in a research note on Tuesday, January 7th. Royal Bank of Canada raised TotalEnergies from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 5th. Redburn Atlantic upgraded shares of TotalEnergies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Piper Sandler lowered their price objective on shares of TotalEnergies from $77.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, Citigroup raised shares of TotalEnergies from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, TotalEnergies has a consensus rating of “Moderate Buy” and an average target price of $72.42.

TotalEnergies Price Performance

TTE stock opened at $64.47 on Wednesday. The company has a market capitalization of $154.59 billion, a P/E ratio of 9.68, a PEG ratio of 0.98 and a beta of 0.56. The company has a fifty day moving average price of $61.18 and a 200-day moving average price of $61.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.10. TotalEnergies SE has a 52-week low of $53.29 and a 52-week high of $74.97.

TotalEnergies (NYSE:TTE) last announced its earnings results on Wednesday, February 5th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.16. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. As a group, equities analysts expect that TotalEnergies SE will post 8.02 EPS for the current year.

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.