Salem Investment Counselors Inc. Decreases Stake in TotalEnergies SE (NYSE:TTE)

Salem Investment Counselors Inc. lowered its position in TotalEnergies SE (NYSE:TTE) by 98.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,488 shares of the company’s stock after selling 97,270 shares during the quarter. Salem Investment Counselors Inc.’s holdings in TotalEnergies were worth $98,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. lifted its stake in TotalEnergies by 65.8% in the first quarter. Financial Management Professionals Inc. now owns 484 shares of the company’s stock worth $31,000 after acquiring an additional 192 shares during the last quarter. Asset Planning Inc purchased a new position in TotalEnergies in the fourth quarter worth approximately $31,000. Bernard Wealth Management Corp. purchased a new position in TotalEnergies in the fourth quarter worth approximately $32,000. General Partner Inc. purchased a new stake in shares of TotalEnergies during the 1st quarter worth approximately $65,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of TotalEnergies by 173.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,147 shares of the company’s stock worth $74,000 after buying an additional 728 shares during the last quarter. Hedge funds and other institutional investors own 16.53% of the company’s stock.

TotalEnergies Stock Up 0.7%

Shares of NYSE:TTE opened at $63.48 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. TotalEnergies SE has a 52-week low of $52.78 and a 52-week high of $71.03. The company has a 50 day moving average of $58.60 and a two-hundred day moving average of $58.85. The company has a market capitalization of $152.20 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on TTE. Citigroup upgraded shares of TotalEnergies from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 26th. HSBC reissued a “buy” rating on shares of TotalEnergies in a research note on Tuesday, May 13th. BNP Paribas raised shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 15th. Dbs Bank raised shares of TotalEnergies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley raised shares of TotalEnergies from an “equal weight” rating to an “overweight” rating and set a $60.80 price objective on the stock in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.