TotalEnergies (NYSE:TTE) Shares Gap Up - Here's What Happened

TotalEnergies SE (NYSE:TTE - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $62.12, but opened at $63.52. TotalEnergies shares last traded at $63.88, with a volume of 247,751 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley restated an "equal weight" rating and issued a $64.10 target price (down previously from $70.40) on shares of TotalEnergies in a research note on Tuesday, January 7th. Redburn Atlantic upgraded shares of TotalEnergies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. Citigroup raised shares of TotalEnergies from a "neutral" rating to a "buy" rating in a research note on Wednesday. Piper Sandler cut their target price on shares of TotalEnergies from $77.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. Finally, Royal Bank of Canada upgraded TotalEnergies from a "sector perform" rating to an "outperform" rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $72.42.

TotalEnergies Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a market capitalization of $154.11 billion, a P/E ratio of 9.65, a PEG ratio of 0.98 and a beta of 0.56. The company's 50 day moving average price is $60.96 and its 200 day moving average price is $61.13.

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TotalEnergies (NYSE:TTE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.16. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. As a group, sell-side analysts anticipate that TotalEnergies SE will post 8.02 EPS for the current fiscal year.

Hedge Funds Weigh In On TotalEnergies

Hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its stake in shares of TotalEnergies by 1.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,795 shares of the company's stock valued at $1,085,000 after purchasing an additional 169 shares during the last quarter. Tradition Wealth Management LLC boosted its stake in TotalEnergies by 2.5% in the third quarter. Tradition Wealth Management LLC now owns 7,124 shares of the company's stock valued at $460,000 after acquiring an additional 171 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in TotalEnergies by 4.1% during the 4th quarter. Apollon Wealth Management LLC now owns 4,448 shares of the company's stock worth $242,000 after acquiring an additional 174 shares during the period. Continuum Advisory LLC raised its position in shares of TotalEnergies by 70.4% during the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company's stock valued at $27,000 after acquiring an additional 183 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of TotalEnergies by 9.1% in the 4th quarter. First Horizon Advisors Inc. now owns 2,217 shares of the company's stock valued at $121,000 after purchasing an additional 184 shares during the period. Institutional investors own 16.53% of the company's stock.

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.