32,497 Shares in TotalEnergies SE Sponsored ADR $TTE Bought by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. acquired a new stake in TotalEnergies SE Sponsored ADR (NYSE:TTE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 32,497 shares of the company’s stock, valued at approximately $2,778,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Amundi bought a new stake in TotalEnergies during the first quarter worth approximately $18,868,822,000. DekaBank Deutsche Girozentrale acquired a new stake in TotalEnergies in the first quarter worth approximately $1,103,799,000. Arrowstreet Capital Limited Partnership bought a new position in TotalEnergies during the 1st quarter valued at $378,821,000. Janus Henderson Group PLC boosted its stake in TotalEnergies by 25.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,349,122 shares of the company’s stock valued at $1,055,775,000 after purchasing an additional 2,287,500 shares in the last quarter. Finally, DJE Kapital AG increased its position in shares of TotalEnergies by 91.1% during the 1st quarter. DJE Kapital AG now owns 3,052,518 shares of the company’s stock valued at $282,461,000 after purchasing an additional 1,455,230 shares during the period. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Trading Down 2.8%

Shares of NYSE:TTE opened at $92.70 on Tuesday. The stock has a market capitalization of $222.26 billion, a price-to-earnings ratio of 9.26 and a beta of 0.17. TotalEnergies SE Sponsored ADR has a 1-year low of $60.85 and a 1-year high of $95.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.06. The company has a 50 day moving average price of $89.62 and a 200 day moving average price of $85.19.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings results on Thursday, October 29th. The company reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $0.19. The firm had revenue of $61.86 billion for the quarter, compared to analyst estimates of $55.39 billion. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. On average, research analysts anticipate that TotalEnergies SE Sponsored ADR will post 12.70 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TTE shares. Wall Street Zen upgraded TotalEnergies from a “hold” rating to a “buy” rating in a research report on Monday, August 31st. Weiss Ratings restated a “buy (b)” rating on shares of TotalEnergies in a report on Thursday, October 22nd. TD Cowen decreased their target price on TotalEnergies from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, October 13th. JPMorgan Chase & Co. lowered TotalEnergies from an “overweight” rating to a “neutral” rating in a report on Wednesday, September 23rd. Finally, Piper Sandler lifted their target price on TotalEnergies from $84.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.00.

More TotalEnergies News

Here are the key news stories impacting TotalEnergies this week:

• Positive Sentiment: Malaysia gas expansion: TotalEnergies agreed to acquire a 30% operated interest in Malaysia’s Lang Lebah and B14 offshore gas fields from PETRONAS, PTTEP and KUFPEC. The integrated development is expected to unlock more than 6.5 trillion cubic feet of gas resources, strengthening the company’s long-term upstream portfolio and exposure to Asian energy demand. Malaysia: TotalEnergies Signs Agreements to Acquire Operated Interest in Two Major Offshore Gas Fields
• Positive Sentiment: U.S. renewables opportunity: CEO Patrick Pouyanne said TotalEnergies is increasing renewable-energy spending in the United States while some competitors exit. This could allow the company to acquire projects or market share at more attractive valuations, although returns will depend on execution and power-market conditions. TotalEnergies spending more on US renewables as others exit, says CEO
• Neutral Sentiment: Energy outlook and transition: TotalEnergies published its annual Energy Outlook through 2060, highlighting both continued energy demand and the need for decarbonization. Management also said the Iran conflict could accelerate the energy transition, potentially benefiting renewables over time but increasing geopolitical and commodity-market uncertainty in the near term. TotalEnergies Publishes its Annual Report on Scenarios for the Evolution of the Global Energy System
• Negative Sentiment: European gas pricing risk: The CEO expects Europe to avoid a physical gas shortage this winter, but said the region may have to pay more to secure adequate supplies. Higher procurement costs could pressure consumers and create volatility in gas markets, while the absence of a shortage may limit extreme price upside for gas producers. TotalEnergies chief sees no gas shortage Europe this winter

About TotalEnergies

TotalEnergies SE is a French multinational energy company that explores for, produces, processes and markets oil and natural gas. Established in 1924 as the Compagnie française des pétroles, the company adopted the TotalEnergies name in 2021 to reflect its broader focus on multiple forms of energy.

The company’s activities include liquefied natural gas, refining and petrochemicals, fuels, lubricants, and the operation of service stations. TotalEnergies also develops and sells electricity from renewable and other power-generation sources, including solar and wind projects, as well as energy-storage and electric-vehicle charging solutions.

TotalEnergies serves customers and operates projects across numerous regions, including Europe, Africa, the Middle East, the Americas and the Asia-Pacific region.