Brokers Issue Forecasts for TotalEnergies FY2024 Earnings

TotalEnergies SE (NYSE:TTE - Free Report) - Research analysts at Scotiabank cut their FY2024 earnings per share estimates for TotalEnergies in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now anticipates that the company will post earnings per share of $7.40 for the year, down from their previous forecast of $8.50. Scotiabank currently has a "Sector Perform" rating and a $75.00 target price on the stock. The consensus estimate for TotalEnergies' current full-year earnings is $7.94 per share. Scotiabank also issued estimates for TotalEnergies' FY2025 earnings at $7.00 EPS.

Several other brokerages also recently weighed in on TTE. Piper Sandler dropped their target price on shares of TotalEnergies from $77.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. Royal Bank of Canada upgraded shares of TotalEnergies from a "sector perform" rating to an "outperform" rating in a research report on Thursday, December 5th. TD Cowen cut shares of TotalEnergies from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. BNP Paribas downgraded TotalEnergies from an "outperform" rating to a "neutral" rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $64.10 price target (down previously from $70.40) on shares of TotalEnergies in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, TotalEnergies presently has a consensus rating of "Moderate Buy" and an average target price of $72.42.

TotalEnergies Price Performance

NYSE:TTE traded up $0.07 during trading hours on Monday, hitting $56.75. 2,526,678 shares of the stock traded hands, compared to its average volume of 1,976,782. The company has a market cap of $134.01 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 1.93 and a beta of 0.61. TotalEnergies has a 1 year low of $53.29 and a 1 year high of $74.97. The stock has a 50 day moving average price of $57.31 and a 200 day moving average price of $63.83. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.39.

Institutional Trading of TotalEnergies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its stake in shares of TotalEnergies by 2.7% during the third quarter. FMR LLC now owns 12,445,228 shares of the company's stock valued at $804,211,000 after acquiring an additional 324,033 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of TotalEnergies by 62.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,012,961 shares of the company's stock valued at $273,323,000 after acquiring an additional 1,546,866 shares during the period. Raymond James & Associates raised its position in shares of TotalEnergies by 0.6% in the 3rd quarter. Raymond James & Associates now owns 2,320,091 shares of the company's stock worth $149,924,000 after acquiring an additional 13,022 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of TotalEnergies by 4.9% during the third quarter. Natixis Advisors LLC now owns 2,266,950 shares of the company's stock valued at $146,490,000 after buying an additional 106,347 shares during the last quarter. Finally, Equity Investment Corp lifted its position in TotalEnergies by 2.3% during the third quarter. Equity Investment Corp now owns 1,862,312 shares of the company's stock valued at $120,343,000 after acquiring an additional 41,564 shares during the last quarter. Hedge funds and other institutional investors own 16.53% of the company's stock.

TotalEnergies Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a $0.8308 dividend. The ex-dividend date is Tuesday, December 31st. TotalEnergies's payout ratio is 34.75%.

TotalEnergies Company Profile

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.