TotalEnergies (NYSE:TTE) Stock Rating Lowered by JPMorgan Chase & Co.

TotalEnergies (NYSE:TTE) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports.

Several other research firms have also weighed in on TTE. Weiss Ratings upgraded shares of TotalEnergies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Wall Street Zen raised shares of TotalEnergies from a “hold” rating to a “buy” rating in a report on Monday, August 31st. Piper Sandler boosted their price objective on shares of TotalEnergies from $84.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Mizuho assumed coverage on shares of TotalEnergies in a research report on Monday, July 20th. They set an “outperform” rating and a $103.00 price objective for the company. Finally, TD Cowen increased their price objective on shares of TotalEnergies from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $88.50.

TotalEnergies Price Performance

Shares of TTE opened at $89.79 on Wednesday. TotalEnergies has a 52 week low of $57.39 and a 52 week high of $94.17. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. The firm has a market cap of $215.28 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 3.06 and a beta of 0.13. The stock has a 50 day moving average of $87.73 and a 200-day moving average of $87.02.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings results 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 business had revenue of $57.10 billion for the quarter. As a group, analysts forecast that TotalEnergies will post 11.06 EPS for the current year.

Institutional Investors Weigh In On TotalEnergies

Several large investors have recently added to or reduced their stakes in TTE. Fiduciary Financial Group LLC increased its position in TotalEnergies by 5.9% during the second quarter. Fiduciary Financial Group LLC now owns 2,767 shares of the company’s stock worth $215,000 after buying an additional 154 shares during the last quarter. Financial Management Professionals Inc. lifted its position in shares of TotalEnergies by 36.0% in the second quarter. Financial Management Professionals Inc. now owns 589 shares of the company’s stock valued at $46,000 after buying an additional 156 shares during the last quarter. World Investment Advisors boosted its stake in shares of TotalEnergies by 2.0% during the 1st quarter. World Investment Advisors now owns 8,448 shares of the company’s stock worth $771,000 after acquiring an additional 165 shares during the period. Planned Solutions Inc. increased its holdings in shares of TotalEnergies by 5.6% during the 2nd quarter. Planned Solutions Inc. now owns 3,162 shares of the company’s stock worth $246,000 after acquiring an additional 168 shares during the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of TotalEnergies by 2.3% during the 1st quarter. Sigma Planning Corp now owns 7,577 shares of the company’s stock worth $690,000 after acquiring an additional 169 shares during the last quarter. 16.53% of the stock is owned by institutional investors and hedge funds.

About TotalEnergies

TotalEnergies SE (NYSE:TTE) is a French multinational energy company engaged in the production, processing and distribution of energy. Its operations span oil and natural gas exploration and production, liquefied natural gas, refining, petrochemicals, fuels, lubricants and other petroleum products.

The company is also expanding its electricity and renewable energy businesses, including solar and wind power, battery storage and electric-vehicle charging services. TotalEnergies serves customers across international markets through activities covering the energy supply chain, from upstream production to transportation, refining, marketing and power generation.

Founded in 1924 as Compagnie française des pétroles, the company operated under the Total name for many years before adopting the TotalEnergies name in 2021 to reflect its broader focus on multiple forms of energy.