Scotiabank Cuts TotalEnergies (NYSE:TTE) Price Target to $60.00

TotalEnergies (NYSE:TTE) had its price target dropped by investment analysts at Scotiabank from $65.00 to $60.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 6.89% from the company’s previous close.

TTE has been the topic of several other reports. Morgan Stanley reissued an “equal weight” rating and issued a $64.10 price objective (down from $70.40) on shares of TotalEnergies in a report on Tuesday, January 7th. Citigroup raised shares of TotalEnergies from a “neutral” rating to a “buy” rating in a report on Wednesday, March 26th. Redburn Atlantic upgraded shares of TotalEnergies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler dropped their target price on shares of TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Six equities 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.42.

TotalEnergies Stock Performance

TotalEnergies stock traded up $1.41 during mid-day trading on Friday, hitting $56.13. The company had a trading volume of 2,195,665 shares, compared to its average volume of 1,576,986. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $134.59 billion, a price-to-earnings ratio of 8.43, a P/E/G ratio of 0.98 and a beta of 0.45. The company’s fifty day moving average is $60.97 and its 200-day moving average is $60.41. TotalEnergies has a 12-month low of $52.78 and a 12-month high of $74.97.

TotalEnergies (NYSE:TTE) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.74 by $0.16. TotalEnergies had a net margin of 7.34% and a return on equity of 15.22%. Equities research analysts predict that TotalEnergies will post 8.02 EPS for the current year.

Institutional Trading of TotalEnergies

Large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its position in shares of TotalEnergies by 121.1% in the fourth quarter. Bank of America Corp DE now owns 7,648,225 shares of the company’s stock valued at $416,828,000 after purchasing an additional 4,189,652 shares in the last quarter. Franklin Resources Inc. boosted its stake in TotalEnergies by 41.7% during the fourth quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock worth $309,851,000 after buying an additional 1,672,387 shares during the last quarter. Royal Bank of Canada grew its holdings in TotalEnergies by 10.0% in the 4th quarter. Royal Bank of Canada now owns 2,917,438 shares of the company’s stock valued at $159,000,000 after buying an additional 265,251 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of TotalEnergies by 19.5% in the 4th quarter. Federated Hermes Inc. now owns 2,886,405 shares of the company’s stock worth $157,309,000 after acquiring an additional 471,291 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of TotalEnergies during the 4th quarter worth $156,044,000. Hedge funds and other institutional investors own 16.53% of the company’s stock.

TotalEnergies Company Profile

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.