Perigon Wealth Management LLC Cuts Position in TotalEnergies SE (NYSE:TTE)

Perigon Wealth Management LLC trimmed its holdings in shares of TotalEnergies SE (NYSE:TTE) by 34.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,093 shares of the company’s stock after selling 9,160 shares during the period. Perigon Wealth Management LLC’s holdings in TotalEnergies were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in TotalEnergies in the 3rd quarter valued at $26,000. Continuum Advisory LLC boosted its holdings in shares of TotalEnergies by 70.4% in the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock worth $27,000 after buying an additional 183 shares during the last quarter. Boit C F David bought a new position in TotalEnergies during the third quarter valued at about $32,000. Maryland Capital Advisors Inc. purchased a new stake in TotalEnergies during the third quarter worth about $32,000. Finally, Eastern Bank bought a new stake in TotalEnergies in the third quarter worth about $32,000. 16.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TTE has been the topic of several research analyst reports. Scotiabank dropped their price objective on TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. BNP Paribas downgraded TotalEnergies from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a research note on Thursday, October 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $64.10 target price (down previously from $70.40) on shares of TotalEnergies in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada raised shares of TotalEnergies from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, TotalEnergies has an average rating of “Moderate Buy” and a consensus target price of $72.42.

TotalEnergies Price Performance

Shares of TotalEnergies stock opened at $58.68 on Friday. The business’s 50-day moving average price is $56.69 and its 200-day moving average price is $62.97. The firm has a market capitalization of $138.56 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. TotalEnergies SE has a 12 month low of $53.29 and a 12 month high of $74.97. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.10). TotalEnergies had a return on equity of 15.93% and a net margin of 7.78%. The business had revenue of $52.02 billion for the quarter, compared to analysts’ expectations of $57.03 billion. During the same period last year, the business posted $2.63 earnings per share. Sell-side analysts forecast that TotalEnergies SE will post 7.77 EPS for the current fiscal year.

TotalEnergies Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st were given a $0.8308 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. TotalEnergies’s payout ratio is presently 34.04%.

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.