TotalEnergies (NYSE:TTE) Stock Rating Upgraded by Royal Bank of Canada

Royal Bank of Canada upgraded shares of TotalEnergies (NYSE:TTE) from a sector perform rating to an outperform rating in a research report sent to investors on Thursday, Marketbeat Ratings reports.

A number of other analysts also recently commented on the company. UBS Group raised TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 9th. BNP Paribas lowered TotalEnergies from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 27th. Barclays raised TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Finally, Scotiabank lowered their price target on TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, TotalEnergies presently has an average rating of “Moderate Buy” and a consensus price target of $78.75.

TotalEnergies Stock Up 1.4 %

Shares of TotalEnergies stock opened at $57.48 on Thursday. The business’s fifty day moving average price is $63.04 and its two-hundred day moving average price is $66.57. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.10 and a quick ratio of 0.88. The company has a market capitalization of $135.74 billion, a P/E ratio of 8.15, a PEG ratio of 1.85 and a beta of 0.61. TotalEnergies has a 1-year low of $56.20 and a 1-year high of $74.97.

TotalEnergies Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.8308 per share. The ex-dividend date is Tuesday, December 31st. TotalEnergies’s dividend payout ratio is 34.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TTE. Crossmark Global Holdings Inc. boosted its stake in TotalEnergies by 48.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 167,364 shares of the company’s stock valued at $10,815,000 after purchasing an additional 54,478 shares during the period. CWA Asset Management Group LLC bought a new stake in TotalEnergies during the 3rd quarter valued at approximately $823,000. Equity Investment Corp boosted its stake in TotalEnergies by 2.3% during the 3rd quarter. Equity Investment Corp now owns 1,862,312 shares of the company’s stock valued at $120,343,000 after purchasing an additional 41,564 shares during the period. FMR LLC boosted its stake in TotalEnergies by 2.7% during the 3rd quarter. FMR LLC now owns 12,445,228 shares of the company’s stock valued at $804,211,000 after purchasing an additional 324,033 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in TotalEnergies by 316.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 228,781 shares of the company’s stock valued at $14,784,000 after purchasing an additional 173,810 shares during the period. Institutional investors and hedge funds own 13.22% of the company’s stock.

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.