Letko Brosseau & Associates Inc. Makes New $72.24 Million Investment in TotalEnergies SE Sponsored ADR $TTE

Letko Brosseau & Associates Inc. bought a new position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,106,404 shares of the company’s stock, valued at approximately $72,235,000.

Other hedge funds also recently made changes to their positions in the company. YANKCOM Partnership increased its holdings in shares of TotalEnergies by 146.8% during the fourth quarter. YANKCOM Partnership now owns 390 shares of the company’s stock worth $25,000 after purchasing an additional 232 shares during the period. MH & Associates Securities Management Corp ADV bought a new position in shares of TotalEnergies during the fourth quarter worth approximately $29,000. Lodestone Wealth Management LLC bought a new position in shares of TotalEnergies during the fourth quarter worth approximately $32,000. Elyxium Wealth LLC bought a new position in shares of TotalEnergies during the fourth quarter worth approximately $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of TotalEnergies during the fourth quarter worth approximately $38,000. 16.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TTE has been the topic of several recent research reports. Scotiabank raised their target price on shares of TotalEnergies from $73.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Citigroup reaffirmed a “buy” rating on shares of TotalEnergies in a report on Thursday, February 12th. Piper Sandler raised their target price on shares of TotalEnergies from $74.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of TotalEnergies in a report on Tuesday, May 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of TotalEnergies in a report on Monday, April 20th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.33.

TotalEnergies Stock Performance

Shares of NYSE:TTE opened at $88.42 on Wednesday. The company’s 50 day simple moving average is $90.41 and its 200 day simple moving average is $78.67. The stock has a market capitalization of $212.00 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 3.00 and a beta of 0.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 0.85. TotalEnergies SE Sponsored ADR has a 1 year low of $57.39 and a 1 year high of $94.17.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.23. The business had revenue of $49.52 billion for the quarter, compared to analysts’ expectations of $44.58 billion. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. As a group, research analysts predict that TotalEnergies SE Sponsored ADR will post 11.09 EPS for the current fiscal year.

About TotalEnergies

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.