The Manufacturers Life Insurance Company Sells 11,555 Shares of TotalEnergies SE (NYSE:TTE)

The Manufacturers Life Insurance Company cut its holdings in TotalEnergies SE (NYSE:TTE - Free Report) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,249 shares of the company's stock after selling 11,555 shares during the quarter. The Manufacturers Life Insurance Company's holdings in TotalEnergies were worth $5,218,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. North Star Investment Management Corp. increased its stake in shares of TotalEnergies by 310.0% in the 1st quarter. North Star Investment Management Corp. now owns 410 shares of the company's stock valued at $28,000 after buying an additional 310 shares during the period. Larson Financial Group LLC raised its stake in shares of TotalEnergies by 100.5% during the second quarter. Larson Financial Group LLC now owns 423 shares of the company's stock worth $28,000 after buying an additional 212 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in TotalEnergies in the first quarter valued at approximately $29,000. Creekmur Asset Management LLC bought a new position in TotalEnergies in the fourth quarter valued at approximately $31,000. Finally, New Covenant Trust Company N.A. acquired a new stake in TotalEnergies during the 1st quarter worth $38,000. 13.22% of the stock is owned by institutional investors.

TotalEnergies Stock Up 1.2 %

Shares of NYSE:TTE traded up $0.84 during trading on Monday, hitting $69.44. 1,301,764 shares of the company's stock traded hands, compared to its average volume of 1,455,976. The company has a 50-day moving average price of $67.67 and a 200-day moving average price of $69.39. TotalEnergies SE has a 52 week low of $62.59 and a 52 week high of $74.97. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35. The company has a market cap of $163.98 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 1.83 and a beta of 0.63.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.13). TotalEnergies had a net margin of 9.49% and a return on equity of 17.92%. The company had revenue of $53.74 billion during the quarter, compared to the consensus estimate of $60.45 billion. During the same period in the prior year, the firm posted $1.99 earnings per share. As a group, research analysts forecast that TotalEnergies SE will post 8.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TTE. TD Cowen lowered TotalEnergies from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 30th. Barclays upgraded TotalEnergies to a "strong-buy" rating in a report on Wednesday, October 2nd. Wolfe Research began coverage on TotalEnergies in a research note on Thursday, July 18th. They issued an "outperform" rating and a $87.00 price target for the company. Finally, Scotiabank reduced their price objective on shares of TotalEnergies from $86.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Friday, July 12th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.00.

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.