The Manufacturers Life Insurance Company Decreases Stake in TotalEnergies SE Sponsored ADR $TTE

The Manufacturers Life Insurance Company reduced its position in TotalEnergies SE Sponsored ADR (NYSE:TTE) by 4.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,095,610 shares of the company’s stock after selling 102,776 shares during the period. The Manufacturers Life Insurance Company’s holdings in TotalEnergies were worth $194,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of TotalEnergies by 151.0% in the first quarter. AQR Capital Management LLC now owns 67,461 shares of the company’s stock valued at $4,364,000 after purchasing an additional 40,586 shares during the period. Empowered Funds LLC boosted its holdings in TotalEnergies by 2.1% in the 1st quarter. Empowered Funds LLC now owns 40,988 shares of the company’s stock worth $2,652,000 after buying an additional 835 shares during the period. Sivia Capital Partners LLC boosted its holdings in TotalEnergies by 17.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,136 shares of the company’s stock worth $315,000 after buying an additional 774 shares during the period. Russell Investments Group Ltd. grew its stake in TotalEnergies by 14.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,274 shares of the company’s stock valued at $1,490,000 after buying an additional 3,151 shares in the last quarter. Finally, Invesco Ltd. grew its stake in TotalEnergies by 7.3% in the 2nd quarter. Invesco Ltd. now owns 198,215 shares of the company’s stock valued at $12,168,000 after buying an additional 13,536 shares in the last quarter. 16.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on TTE. Weiss Ratings upgraded TotalEnergies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Piper Sandler reiterated a “neutral” rating and issued a $85.00 price target on shares of TotalEnergies in a research report on Thursday, July 23rd. Mizuho initiated coverage on TotalEnergies in a research report on Monday, July 20th. They issued an “outperform” rating and a $103.00 price target for the company. TD Cowen boosted their price objective on TotalEnergies from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, BNP Paribas Exane raised TotalEnergies from a “neutral” rating to an “outperform” rating in a report on Friday, April 17th. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, TotalEnergies presently has a consensus rating of “Moderate Buy” and an average target price of $87.14.

TotalEnergies Trading Up 0.1%

TotalEnergies stock opened at $84.25 on Wednesday. The stock has a market cap of $202.00 billion, a P/E ratio of 10.54, a PEG ratio of 2.98 and a beta of 0.14. TotalEnergies SE Sponsored ADR has a fifty-two week low of $57.39 and a fifty-two week high of $94.17. The firm’s fifty day moving average price is $83.65 and its 200-day moving average price is $82.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.06.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $2.68 earnings per share (EPS) for the quarter. TotalEnergies had a return on equity of 15.66% and a net margin of 8.29%.The company had revenue of $57.10 billion during the quarter. Equities research analysts forecast that TotalEnergies SE Sponsored ADR will post 10.61 earnings per share for the current fiscal year.

TotalEnergies Company Profile

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.