Wedge Capital Management L L P NC Sells 105,855 Shares of TotalEnergies SE (NYSE:TTE)

Wedge Capital Management L L P NC lowered its position in TotalEnergies SE (NYSE:TTE) by 30.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 245,145 shares of the company’s stock after selling 105,855 shares during the quarter. Wedge Capital Management L L P NC’s holdings in TotalEnergies were worth $15,858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TTE. Financial Management Professionals Inc. grew its stake in TotalEnergies by 65.8% during the first quarter. Financial Management Professionals Inc. now owns 484 shares of the company’s stock valued at $31,000 after acquiring an additional 192 shares in the last quarter. Asset Planning Inc bought a new position in TotalEnergies in the 4th quarter valued at $31,000. Bernard Wealth Management Corp. purchased a new position in shares of TotalEnergies during the 4th quarter valued at $32,000. Stonebridge Financial Group LLC bought a new position in shares of TotalEnergies in the fourth quarter worth $49,000. Finally, General Partner Inc. bought a new position in shares of TotalEnergies in the first quarter worth $65,000. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Stock Performance

Shares of TotalEnergies stock opened at $59.32 on Friday. The company has a market capitalization of $142.23 billion, a PE ratio of 8.91, a P/E/G ratio of 0.98 and a beta of 0.56. The company has a 50-day simple moving average of $58.29 and a two-hundred day simple moving average of $58.73. TotalEnergies SE has a one year low of $52.78 and a one year high of $71.03. 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 (NYSE:TTE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The company had revenue of $47.90 billion for the quarter, compared to analyst estimates of $41.23 billion. TotalEnergies had a net margin of 7.34% and a return on equity of 15.22%. During the same quarter in the previous year, the company posted $2.14 EPS. Research analysts expect that TotalEnergies SE will post 8.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on TTE. Morgan Stanley raised shares of TotalEnergies from an “equal weight” rating to an “overweight” rating and set a $60.80 price target for the company in a research note on Monday, May 12th. BNP Paribas upgraded shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 15th. Piper Sandler increased their target price on TotalEnergies from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Citigroup raised TotalEnergies from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 26th. Finally, Scotiabank cut their price objective on TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.36.

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.