Scotiabank Cuts TotalEnergies (NYSE:TTE) Price Target to $60.00

TotalEnergies (NYSE:TTE) had its price target reduced by equities research analysts at Scotiabank from $65.00 to $60.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 6.89% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Redburn Atlantic upgraded shares of TotalEnergies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Citigroup upgraded TotalEnergies from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 26th. Morgan Stanley restated an “equal weight” rating and set a $64.10 price objective (down from $70.40) on shares of TotalEnergies in a research report on Tuesday, January 7th. Finally, Piper Sandler reduced their target price on TotalEnergies from $77.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.42.

TotalEnergies Stock Up 2.6 %

Shares of TTE stock opened at $56.13 on Friday. TotalEnergies has a 12 month low of $52.78 and a 12 month high of $74.97. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a market cap of $134.59 billion, a PE ratio of 8.43, a price-to-earnings-growth ratio of 0.98 and a beta of 0.45. The stock has a 50 day moving average of $60.91 and a 200-day moving average of $60.34.

TotalEnergies (NYSE:TTE) last released its earnings results on Wednesday, February 5th. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.74 by $0.16. TotalEnergies had a net margin of 7.34% and a return on equity of 15.22%. On average, equities analysts predict that TotalEnergies will post 8.02 EPS for the current year.

Institutional Trading of TotalEnergies

Large investors have recently bought and sold shares of the stock. Clear Creek Financial Management LLC acquired a new stake in shares of TotalEnergies in the 4th quarter valued at $345,000. Franklin Resources Inc. boosted its position in TotalEnergies by 41.7% in the fourth quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock valued at $309,851,000 after buying an additional 1,672,387 shares in the last quarter. Logan Capital Management Inc. grew its stake in TotalEnergies by 22.8% during the third quarter. Logan Capital Management Inc. now owns 71,757 shares of the company’s stock worth $4,637,000 after buying an additional 13,331 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in shares of TotalEnergies by 85.1% during the fourth quarter. CWA Asset Management Group LLC now owns 23,571 shares of the company’s stock worth $1,285,000 after buying an additional 10,835 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of TotalEnergies by 266.5% in the third quarter. Barclays PLC now owns 674,154 shares of the company’s stock valued at $43,564,000 after acquiring an additional 490,187 shares during the last quarter. 16.53% of the stock is currently owned by institutional investors.

About TotalEnergies

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.