TotalEnergies (NYSE:TTE) Shares Gap Down to $67.75

TotalEnergies SE (NYSE:TTE)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $67.75, but opened at $66.26. TotalEnergies shares last traded at $66.27, with a volume of 220,666 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TTE. Piper Sandler lifted their price target on shares of TotalEnergies from $75.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Scotiabank boosted their target price on shares of TotalEnergies from $74.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.75.

TotalEnergies Price Performance

The stock has a market capitalization of $155.99 billion, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 1.69 and a beta of 0.67. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $71.00 and its 200 day moving average is $68.32.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings data on Friday, April 26th. The company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.18. TotalEnergies had a return on equity of 18.30% and a net margin of 9.52%. The firm had revenue of $56.28 billion for the quarter, compared to analyst estimates of $59.64 billion. Research analysts anticipate that TotalEnergies SE will post 9.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Se Totalenergies bought 196,964 shares of the stock in a transaction on Thursday, March 28th. The shares were bought at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the acquisition, the director now owns 295,235 shares of the company’s stock, valued at $6,749,072.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On TotalEnergies

Several large investors have recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its holdings in shares of TotalEnergies by 1.6% during the 1st quarter. Private Trust Co. NA now owns 9,273 shares of the company’s stock valued at $638,000 after acquiring an additional 149 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in TotalEnergies by 3.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,379 shares of the company’s stock worth $301,000 after acquiring an additional 153 shares in the last quarter. PDS Planning Inc increased its position in shares of TotalEnergies by 2.3% in the 4th quarter. PDS Planning Inc now owns 6,839 shares of the company’s stock worth $461,000 after purchasing an additional 156 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of TotalEnergies by 1.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 18,496 shares of the company’s stock valued at $1,246,000 after purchasing an additional 179 shares in the last quarter. Finally, Delta Financial Group Inc. grew its stake in TotalEnergies by 3.1% in the first quarter. Delta Financial Group Inc. now owns 6,250 shares of the company’s stock worth $430,000 after purchasing an additional 190 shares in the last quarter. 13.22% of the stock is currently owned by hedge funds and other 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.