Pinnacle Associates Ltd. Has $3.47 Million Position in TotalEnergies SE (NYSE:TTE)

Pinnacle Associates Ltd. grew its stake in TotalEnergies SE (NYSE:TTE - Free Report) by 74.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,536 shares of the company's stock after purchasing an additional 21,996 shares during the period. Pinnacle Associates Ltd.'s holdings in TotalEnergies were worth $3,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC boosted its position in TotalEnergies by 100.5% in the second quarter. Larson Financial Group LLC now owns 423 shares of the company's stock valued at $28,000 after buying an additional 212 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in TotalEnergies in the 1st quarter worth about $29,000. Boit C F David bought a new position in TotalEnergies in the third quarter valued at about $32,000. Maryland Capital Advisors Inc. acquired a new stake in shares of TotalEnergies during the third quarter valued at about $32,000. Finally, Eastern Bank bought a new stake in shares of TotalEnergies during the third quarter worth about $32,000. 13.22% of the stock is currently owned by institutional investors and hedge funds.

TotalEnergies Trading Down 0.2 %

TTE stock traded down $0.11 during mid-day trading on Friday, reaching $62.45. The company's stock had a trading volume of 1,196,009 shares, compared to its average volume of 1,449,658. TotalEnergies SE has a 12 month low of $61.95 and a 12 month 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 business's 50 day moving average price is $67.02 and its 200 day moving average price is $68.75. The company has a market cap of $147.47 billion, a price-to-earnings ratio of 7.21, a price-to-earnings-growth ratio of 2.20 and a beta of 0.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wolfe Research initiated coverage on shares of TotalEnergies in a report on Thursday, July 18th. They set an "outperform" rating and a $87.00 target price on the stock. UBS Group upgraded TotalEnergies to a "strong-buy" rating in a report on Wednesday, October 9th. Barclays raised TotalEnergies to a "strong-buy" rating in a report on Wednesday, October 2nd. Scotiabank decreased their price target on TotalEnergies from $80.00 to $75.00 and set a "sector perform" rating for the company in a research note on Thursday, October 10th. Finally, TD Cowen lowered TotalEnergies from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $78.75.

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.