TotalEnergies (NYSE:TTE) Given New $62.00 Price Target at Piper Sandler

TotalEnergies (NYSE:TTE) had its target price lowered by Piper Sandler from $77.00 to $62.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other brokerages have also commented on TTE. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a research report on Thursday, October 3rd. Barclays raised shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised shares of TotalEnergies from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 5th. UBS Group raised shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, TD Cowen lowered shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.50.

TotalEnergies Price Performance

TTE opened at $53.66 on Thursday. The company has a market capitalization of $126.71 billion, a P/E ratio of 7.61, a PEG ratio of 1.93 and a beta of 0.61. The company has a 50-day moving average of $60.50 and a 200-day moving average of $65.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.10. TotalEnergies has a 1-year low of $53.56 and a 1-year high of $74.97.

TotalEnergies Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be issued a $0.8308 dividend. The ex-dividend date is Tuesday, December 31st. TotalEnergies’s dividend payout ratio (DPR) is presently 34.75%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TTE. FMR LLC raised its holdings in shares of TotalEnergies by 2.7% during the third quarter. FMR LLC now owns 12,445,228 shares of the company’s stock valued at $804,211,000 after buying an additional 324,033 shares during the last quarter. Franklin Resources Inc. increased its position in TotalEnergies by 62.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,012,961 shares of the company’s stock valued at $273,323,000 after acquiring an additional 1,546,866 shares during the period. Raymond James & Associates raised its stake in TotalEnergies by 0.6% during the 3rd quarter. Raymond James & Associates now owns 2,320,091 shares of the company’s stock valued at $149,924,000 after acquiring an additional 13,022 shares in the last quarter. Natixis Advisors LLC boosted its position in TotalEnergies by 4.9% during the 3rd quarter. Natixis Advisors LLC now owns 2,266,950 shares of the company’s stock worth $146,490,000 after acquiring an additional 106,347 shares during the period. Finally, Equity Investment Corp grew its stake in shares of TotalEnergies by 2.3% in 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 in the last quarter. 16.53% of the stock is owned by institutional investors and hedge funds.

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.