TotalEnergies (NYSE:TTE) Sees Unusually-High Trading Volume – Here’s Why

TotalEnergies SE (NYSE:TTE) saw unusually-high trading volume on Wednesday . Approximately 2,819,469 shares changed hands during mid-day trading, an increase of 96% from the previous session’s volume of 1,440,654 shares.The stock last traded at $64.40 and had previously closed at $64.03.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wolfe Research assumed coverage on TotalEnergies in a research report on Thursday, July 18th. They set an “outperform” rating and a $87.00 target price for the company. UBS Group upgraded shares of TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group raised TotalEnergies to a “hold” rating in a research note on Thursday, October 3rd. Barclays upgraded TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen lowered TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.75.

TotalEnergies Stock Up 0.1 %

The company has a market capitalization of $151.32 billion, a P/E ratio of 7.25, a price-to-earnings-growth ratio of 2.25 and a beta of 0.63. The stock’s fifty day moving average is $67.23 and its 200 day moving average is $68.83. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors lifted its holdings in TotalEnergies by 2.1% in the first quarter. Capital International Investors now owns 4,858,097 shares of the company’s stock worth $334,383,000 after buying an additional 100,059 shares during the period. Raymond James & Associates boosted its position in shares of TotalEnergies by 0.6% during the third 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 in the last quarter. Natixis Advisors LLC grew its stake in TotalEnergies by 3.4% in the second quarter. Natixis Advisors LLC now owns 2,160,603 shares of the company’s stock worth $144,069,000 after purchasing an additional 71,658 shares during the period. Clearbridge Investments LLC raised its holdings in TotalEnergies by 1.5% in the first quarter. Clearbridge Investments LLC now owns 2,039,311 shares of the company’s stock worth $140,366,000 after purchasing an additional 31,123 shares in the last quarter. Finally, Equity Investment Corp lifted its position in TotalEnergies by 0.6% during the second quarter. Equity Investment Corp now owns 1,820,748 shares of the company’s stock valued at $121,407,000 after buying an additional 10,707 shares during the period. Institutional investors own 13.22% of the company’s stock.

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.