TotalEnergies (NYSE:TTE) Sees Large Volume Increase – Here’s What Happened

TotalEnergies SE (NYSE:TTE) shares saw unusually-strong trading volume on Thursday . Approximately 2,046,812 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 1,795,651 shares.The stock last traded at $59.10 and had previously closed at $57.68.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TTE. TD Cowen downgraded shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. UBS Group raised shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 9th. Morgan Stanley restated an “equal weight” rating and issued a $64.10 target price (down previously from $70.40) on shares of TotalEnergies in a research note on Tuesday, January 7th. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a research note on Thursday, October 3rd. Finally, Scotiabank cut 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. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, TotalEnergies has a consensus rating of “Moderate Buy” and an average target price of $72.42.

TotalEnergies Trading Up 2.5 %

The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $57.12 and its two-hundred day moving average is $63.73. The stock has a market cap of $139.64 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61.

TotalEnergies Cuts Dividend

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

Institutional Investors Weigh In On TotalEnergies

A number of hedge funds have recently added to or reduced their stakes in TTE. Mather Group LLC. grew its position in shares of TotalEnergies by 12.4% during the third quarter. Mather Group LLC. now owns 1,312 shares of the company’s stock worth $85,000 after acquiring an additional 145 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in TotalEnergies by 0.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 27,751 shares of the company’s stock valued at $1,793,000 after purchasing an additional 165 shares during the period. Integrated Wealth Concepts LLC grew its position in TotalEnergies by 1.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,795 shares of the company’s stock worth $1,085,000 after purchasing an additional 169 shares during the last quarter. Tradition Wealth Management LLC increased its stake in shares of TotalEnergies by 2.5% in the third quarter. Tradition Wealth Management LLC now owns 7,124 shares of the company’s stock valued at $460,000 after purchasing an additional 171 shares during the period. Finally, Lake Street Advisors Group LLC raised its holdings in shares of TotalEnergies by 2.2% during the third quarter. Lake Street Advisors Group LLC now owns 8,595 shares of the company’s stock valued at $563,000 after buying an additional 181 shares during the last quarter. 16.53% of the stock is currently owned by 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.