TotalEnergies (NYSE:TTE) Price Target Raised to $97.00

TotalEnergies (NYSE:TTE) had its target price upped by research analysts at Scotiabank from $73.00 to $97.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 8.44% from the stock’s previous close.

Several other brokerages have also recently weighed in on TTE. Wolfe Research reaffirmed an “outperform” rating and set a $83.00 price objective on shares of TotalEnergies in a research note on Wednesday, January 21st. Freedom Capital cut shares of TotalEnergies from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TotalEnergies in a research note on Wednesday, January 21st. JPMorgan Chase & Co. raised shares of TotalEnergies from a “neutral” rating to an “overweight” rating in a research note on Monday, March 2nd. Finally, Zacks Research raised shares of TotalEnergies from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.97.

TotalEnergies Price Performance

NYSE TTE traded up $1.08 on Wednesday, reaching $89.45. The company’s stock had a trading volume of 699,735 shares, compared to its average volume of 2,009,718. The firm has a market cap of $214.48 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 3.72 and a beta of 0.13. The business has a 50-day moving average price of $84.60 and a 200 day moving average price of $71.99. TotalEnergies has a 52 week low of $56.31 and a 52 week high of $93.49. The company has a current ratio of 0.97, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42.

TotalEnergies (NYSE:TTE) last posted its earnings results on Wednesday, February 11th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.01. The business had revenue of $45.93 billion for the quarter, compared to analysts’ expectations of $36.69 billion. TotalEnergies had a net margin of 6.52% and a return on equity of 13.14%. Sell-side analysts expect that TotalEnergies will post 8.81 EPS for the current year.

Institutional Trading of TotalEnergies

Several hedge funds have recently modified their holdings of TTE. Vanguard Group Inc. bought a new stake in shares of TotalEnergies during the fourth quarter valued at approximately $5,337,330,000. Capital International Investors lifted its holdings in TotalEnergies by 1,438.5% in the fourth quarter. Capital International Investors now owns 52,668,676 shares of the company’s stock valued at $3,435,988,000 after buying an additional 49,245,192 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in TotalEnergies by 21,398.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 40,380,511 shares of the company’s stock valued at $2,641,693,000 after buying an additional 40,192,677 shares during the period. Caisse Des Depots ET Consignations acquired a new position in TotalEnergies in the fourth quarter valued at approximately $1,982,676,000. Finally, Norges Bank acquired a new position in TotalEnergies in the fourth quarter valued at approximately $1,917,626,000. 16.53% of the stock is owned by institutional investors.

TotalEnergies Company Profile

TotalEnergies SE (NYSE: TTE) is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.