Wedge Capital Management L L P NC Reduces Stock Holdings in TotalEnergies SE (NYSE:TTE)

Wedge Capital Management L L P NC lessened its position in TotalEnergies SE (NYSE:TTE - Free Report) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 319,806 shares of the company's stock after selling 9,974 shares during the quarter. Wedge Capital Management L L P NC's holdings in TotalEnergies were worth $20,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TTE. Capital International Investors increased its stake in TotalEnergies by 2.1% in the first quarter. Capital International Investors now owns 4,858,097 shares of the company's stock valued at $334,383,000 after purchasing an additional 100,059 shares during the last quarter. Natixis Advisors LLC raised its holdings in TotalEnergies by 3.4% in the second quarter. Natixis Advisors LLC now owns 2,160,603 shares of the company's stock valued at $144,069,000 after buying an additional 71,658 shares during the period. Clearbridge Investments LLC lifted its position in TotalEnergies by 1.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,039,311 shares of the company's stock worth $140,366,000 after acquiring an additional 31,123 shares in the last quarter. Equity Investment Corp boosted its holdings in TotalEnergies by 0.6% in the second quarter. Equity Investment Corp now owns 1,820,748 shares of the company's stock valued at $121,407,000 after purchasing an additional 10,707 shares during the last quarter. Finally, Energy Income Partners LLC raised its stake in TotalEnergies by 8.8% during the first quarter. Energy Income Partners LLC now owns 1,014,779 shares of the company's stock valued at $69,847,000 after buying an additional 82,175 shares in the last quarter. Institutional investors and hedge funds own 13.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TTE shares. Scotiabank dropped their price objective on TotalEnergies from $80.00 to $75.00 and set a "sector perform" rating on the stock in a report on Thursday. The Goldman Sachs Group upgraded TotalEnergies to a "hold" rating in a report on Thursday, October 3rd. UBS Group upgraded shares of TotalEnergies to a "strong-buy" rating in a research report on Wednesday, October 9th. Wolfe Research assumed coverage on shares of TotalEnergies in a report on Thursday, July 18th. They set an "outperform" rating and a $87.00 target price for the company. Finally, TD Cowen cut TotalEnergies from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.75.

TotalEnergies Price Performance

Shares of NYSE:TTE traded down $0.17 on Monday, hitting $68.11. The company's stock had a trading volume of 665,724 shares, compared to its average volume of 1,445,815. The company has a 50-day simple moving average of $67.85 and a 200 day simple moving average of $69.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 0.87. The company has a market capitalization of $160.84 billion, a PE ratio of 7.69, a PEG ratio of 1.86 and a beta of 0.63. TotalEnergies SE has a 1 year low of $62.59 and a 1 year high of $74.97.

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

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.