TotalEnergies (NYSE:TTE) Hits New 52-Week Low – What’s Next?

TotalEnergies SE (NYSE:TTE)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $58.45 and last traded at $58.58, with a volume of 1088679 shares traded. The stock had previously closed at $59.66.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TTE. BNP Paribas lowered shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a research note on Wednesday. Barclays upgraded shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. UBS Group upgraded shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 9th. TD Cowen cut TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group raised TotalEnergies to a “hold” rating in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, TotalEnergies currently has an average rating of “Moderate Buy” and an average target price of $78.75.

TotalEnergies Price Performance

The stock’s 50-day moving average is $64.41 and its 200 day moving average is $67.21. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a market capitalization of $134.97 billion, a PE ratio of 8.11, a P/E/G ratio of 1.89 and a beta of 0.64.

Institutional Trading of TotalEnergies

A number of large investors have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of TotalEnergies by 2.7% during the third quarter. FMR LLC now owns 12,445,228 shares of the company’s stock worth $804,211,000 after buying an additional 324,033 shares during the period. Franklin Resources Inc. lifted its position in TotalEnergies by 62.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,961 shares of the company’s stock worth $273,323,000 after acquiring an additional 1,546,866 shares during the period. Raymond James & Associates grew its stake in shares of TotalEnergies by 0.6% in the 3rd quarter. Raymond James & Associates now owns 2,320,091 shares of the company’s stock valued at $149,924,000 after purchasing an additional 13,022 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of TotalEnergies by 4.9% in the third quarter. Natixis Advisors LLC now owns 2,266,950 shares of the company’s stock valued at $146,490,000 after purchasing an additional 106,347 shares during the period. Finally, Equity Investment Corp raised its stake in shares of TotalEnergies by 2.3% during the third quarter. Equity Investment Corp now owns 1,862,312 shares of the company’s stock worth $120,343,000 after purchasing an additional 41,564 shares during the last quarter. 13.22% of the stock is owned by institutional investors and hedge funds.

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.