Mediolanum International Funds Ltd Invests $11.50 Million in TotalEnergies SE (NYSE:TTE)

Mediolanum International Funds Ltd acquired a new position in shares of TotalEnergies SE (NYSE:TTE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 174,263 shares of the company’s stock, valued at approximately $11,504,000.

A number of other hedge funds also recently made changes to their positions in the stock. Capital International Investors lifted its holdings in shares of TotalEnergies by 2.1% during the 1st quarter. Capital International Investors now owns 4,858,097 shares of the company’s stock worth $334,383,000 after acquiring an additional 100,059 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of TotalEnergies by 0.6% during the 3rd quarter. Raymond James & Associates now owns 2,320,091 shares of the company’s stock worth $149,924,000 after acquiring an additional 13,022 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of TotalEnergies by 3.4% during the 2nd quarter. Natixis Advisors LLC now owns 2,160,603 shares of the company’s stock worth $144,069,000 after acquiring an additional 71,658 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of TotalEnergies by 1.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,039,311 shares of the company’s stock worth $140,366,000 after acquiring an additional 31,123 shares during the last quarter. Finally, Equity Investment Corp lifted its holdings in shares of TotalEnergies by 0.6% during the 2nd quarter. Equity Investment Corp now owns 1,820,748 shares of the company’s stock worth $121,407,000 after acquiring an additional 10,707 shares during the last quarter. 13.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. UBS Group raised shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 9th. Scotiabank lowered their price target on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. TD Cowen downgraded shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Wolfe Research assumed coverage on shares of TotalEnergies in a research note on Thursday, July 18th. They issued an “outperform” rating and a $87.00 price target for the company. Finally, Barclays raised shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TotalEnergies has an average rating of “Moderate Buy” and a consensus target price of $78.75.

TotalEnergies Price Performance

TTE stock opened at $65.01 on Friday. The firm’s 50-day moving average price is $67.41 and its two-hundred day moving average price is $69.00. TotalEnergies SE has a 12-month low of $62.59 and a 12-month high of $74.97. The stock has a market capitalization of $153.52 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 2.24 and a beta of 0.63. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35.

TotalEnergies (NYSE:TTE) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.13). TotalEnergies had a net margin of 9.49% and a return on equity of 17.92%. The firm had revenue of $53.74 billion during the quarter, compared to analysts’ expectations of $60.45 billion. During the same quarter in the previous year, the firm posted $1.99 EPS. As a group, equities analysts predict that TotalEnergies SE will post 8.17 earnings per share for the current year.

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.