TotalEnergies (NYSE:TTE) Sees Large Volume Increase – Here’s Why

Shares of TotalEnergies SE (NYSE:TTE) saw unusually-high trading volume on Wednesday . Approximately 2,819,469 shares changed hands during mid-day trading, an increase of 96% from the previous session’s volume of 1,440,654 shares.The stock last traded at $64.40 and had previously closed at $64.03.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen lowered TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Scotiabank lowered their target price 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. Wolfe Research began coverage on shares of TotalEnergies in a report on Thursday, July 18th. They issued an “outperform” rating and a $87.00 target price for the company. Barclays raised shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, UBS Group upgraded shares of TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.75.

TotalEnergies Price Performance

The company has a market capitalization of $151.32 billion, a P/E ratio of 7.25, a price-to-earnings-growth ratio of 2.25 and a beta of 0.63. The business’s 50-day moving average is $67.23 and its two-hundred day moving average is $68.83. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 0.35.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTE. BNP Paribas Financial Markets boosted its holdings in shares of TotalEnergies by 159,211.0% in the first quarter. BNP Paribas Financial Markets now owns 434,919 shares of the company’s stock worth $29,935,000 after acquiring an additional 434,646 shares during the period. Gabelli Funds LLC increased its position in shares of TotalEnergies by 5.5% during the first quarter. Gabelli Funds LLC now owns 309,200 shares of the company’s stock valued at $21,282,000 after buying an additional 16,200 shares during the period. Tweedy Browne Co LLC purchased a new stake in shares of TotalEnergies in the first quarter worth about $10,852,000. Norden Group LLC purchased a new stake in shares of TotalEnergies in the first quarter worth about $1,300,000. Finally, National Bank of Canada FI boosted its position in shares of TotalEnergies by 25.7% in the first quarter. National Bank of Canada FI now owns 275,983 shares of the company’s stock valued at $20,370,000 after acquiring an additional 56,403 shares during the period. 13.22% of the stock is currently owned by hedge funds and other institutional investors.

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.