Parr Mcknight Wealth Management Group LLC Invests $1.09 Million in TotalEnergies SE (NYSE:TTE)

Parr Mcknight Wealth Management Group LLC acquired a new stake in TotalEnergies SE (NYSE:TTE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,066 shares of the company’s stock, valued at approximately $1,094,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in 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 buying an additional 4,189,652 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of TotalEnergies by 41.7% in the 4th quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock worth $309,851,000 after acquiring an additional 1,672,387 shares during the period. Royal Bank of Canada grew its holdings in shares of TotalEnergies by 10.0% in the 4th quarter. Royal Bank of Canada now owns 2,917,438 shares of the company’s stock worth $159,000,000 after acquiring an additional 265,251 shares during the period. Federated Hermes Inc. increased its stake in TotalEnergies by 19.5% in the 4th quarter. Federated Hermes Inc. now owns 2,886,405 shares of the company’s stock valued at $157,309,000 after purchasing an additional 471,291 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in TotalEnergies during the fourth quarter worth $156,044,000. Institutional investors and hedge funds own 16.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TTE. HSBC reissued a “buy” rating on shares of TotalEnergies in a report on Tuesday, May 13th. Scotiabank lowered their price objective on shares of TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Morgan Stanley upgraded shares of TotalEnergies from an “equal weight” rating to an “overweight” rating and set a $60.80 target price for the company in a report on Monday, May 12th. Dbs Bank upgraded shares of TotalEnergies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Finally, Piper Sandler increased their price target on shares of TotalEnergies from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, TotalEnergies currently has an average rating of “Moderate Buy” and a consensus target price of $69.36.

TotalEnergies Trading Down 0.5%

Shares of TTE stock opened at $57.90 on Friday. The firm has a 50-day moving average price of $59.32 and a 200 day moving average price of $58.88. TotalEnergies SE has a twelve month low of $52.78 and a twelve month high of $73.12. The company has a market capitalization of $138.82 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 0.98 and a beta of 0.58. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $47.90 billion for the quarter, compared to analysts’ expectations of $41.23 billion. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. During the same quarter last year, the firm earned $2.14 earnings per share. Research analysts forecast that TotalEnergies SE will post 8.02 earnings per share for the current fiscal year.

TotalEnergies 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.