TotalEnergies (NYSE:TTE) Reaches New 52-Week Low – Here’s Why

TotalEnergies SE (NYSE:TTE)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $61.22 and last traded at $61.36, with a volume of 75562 shares traded. The stock had previously closed at $63.41.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TTE shares. Wolfe Research assumed coverage on TotalEnergies in a research note on Thursday, July 18th. They issued an “outperform” rating and a $87.00 target price for the company. Barclays raised shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. UBS Group raised shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 9th. Scotiabank cut 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. Finally, TD Cowen lowered TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Five 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 company’s stock. According to data from MarketBeat.com, TotalEnergies has an average rating of “Moderate Buy” and an average price target of $78.75.

TotalEnergies Stock Down 2.5 %

The firm has a market capitalization of $144.52 billion, a price-to-earnings ratio of 8.90, a P/E/G ratio of 1.99 and a beta of 0.64. The firm has a fifty day moving average price of $66.29 and a 200 day moving average price of $68.44. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Institutional Trading of TotalEnergies

Several large investors have recently made changes to their positions in the business. Gabelli Funds LLC increased its holdings in shares of TotalEnergies by 5.5% in the first quarter. Gabelli Funds LLC now owns 309,200 shares of the company’s stock valued at $21,282,000 after purchasing an additional 16,200 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of TotalEnergies by 25.7% during the first quarter. National Bank of Canada FI now owns 275,983 shares of the company’s stock valued at $20,370,000 after acquiring an additional 56,403 shares during the period. Cetera Investment Advisers boosted its holdings in TotalEnergies by 105.0% in the first quarter. Cetera Investment Advisers now owns 215,737 shares of the company’s stock valued at $14,849,000 after acquiring an additional 110,497 shares during the last quarter. Pitcairn Co. acquired a new stake in TotalEnergies in the first quarter worth about $592,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in TotalEnergies during the 1st quarter worth about $710,000. Institutional investors own 13.22% of the company’s stock.

TotalEnergies Company Profile

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.