TotalEnergies (NYSE:TTE) Shares Gap Up – Still a Buy?

TotalEnergies SE Sponsored ADR (NYSE:TTE)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $84.23, but opened at $86.77. TotalEnergies shares last traded at $87.02, with a volume of 205,989 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays reaffirmed an “overweight” rating on shares of TotalEnergies in a research report on Monday. TD Cowen upped their price objective on TotalEnergies from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Morgan Stanley set a $90.00 price objective on TotalEnergies and gave the company an “equal weight” rating in a research report on Thursday, September 3rd. Wall Street Zen upgraded TotalEnergies from a “hold” rating to a “buy” rating in a research note on Monday, August 31st. Finally, Weiss Ratings upgraded shares of TotalEnergies from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, TotalEnergies presently has an average rating of “Moderate Buy” and an average target price of $92.00.

TotalEnergies Stock Performance

The business has a 50-day moving average price of $88.49 and a 200-day moving average price of $87.36. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $206.57 billion, a price-to-earnings ratio of 10.78 and a beta of 0.18.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $2.68 earnings per share for the quarter. TotalEnergies had a return on equity of 15.66% and a net margin of 8.29%. The firm had revenue of $57.10 billion during the quarter. As a group, sell-side analysts forecast that TotalEnergies SE Sponsored ADR will post 11.65 earnings per share for the current year.

Institutional Investors Weigh In On TotalEnergies

Several institutional investors have recently added to or reduced their stakes in the business. Amundi acquired a new position in shares of TotalEnergies during the first quarter valued at about $18,868,822,000. DekaBank Deutsche Girozentrale acquired a new stake in TotalEnergies in the 1st quarter worth approximately $1,103,799,000. Janus Henderson Group PLC boosted its stake in TotalEnergies by 25.2% in the 1st quarter. Janus Henderson Group PLC now owns 11,349,122 shares of the company’s stock worth $1,055,775,000 after purchasing an additional 2,287,500 shares in the last quarter. Bank of New York Mellon Corp grew its position in TotalEnergies by 8.3% during the 1st quarter. Bank of New York Mellon Corp now owns 11,514,654 shares of the company’s stock worth $1,047,603,000 after purchasing an additional 881,889 shares during the last quarter. Finally, Groupe la Francaise grew its position in TotalEnergies by 8.9% during the 1st quarter. Groupe la Francaise now owns 7,617,900 shares of the company’s stock worth $683,234,000 after purchasing an additional 624,764 shares during the last quarter. Institutional investors and hedge funds own 16.53% of the company’s stock.

TotalEnergies Company Profile

TotalEnergies SE is a France-based, integrated energy company that produces and markets oil, natural gas, liquefied natural gas (LNG), electricity and low-carbon energy. Its operations span the energy value chain, including exploration and production, refining, petrochemicals, fuel distribution, lubricants, and energy trading.

The company is also expanding its renewable and electricity businesses, with activities in solar and wind power, battery storage, electric-vehicle charging and other lower-carbon energy solutions.