TotalEnergies (NYSE:TTE) Receives Equal Weight Rating from Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of TotalEnergies (NYSE:TTE) in a research note released on Tuesday, MarketBeat reports. Morgan Stanley currently has a $64.10 price objective on the stock, down from their previous price objective of $70.40.

Several other equities analysts have also commented on the stock. TD Cowen lowered shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Scotiabank dropped their price target on TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Barclays upgraded TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upgraded TotalEnergies from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 5th. Finally, Piper Sandler cut their target price on TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.42.

TotalEnergies Stock Up 1.0 %

NYSE TTE opened at $57.07 on Tuesday. The stock has a 50 day moving average price of $57.81 and a 200-day moving average price of $64.12. TotalEnergies has a one year low of $53.29 and a one year high of $74.97. 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 company has a market capitalization of $134.77 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.93 and a beta of 0.61.

TotalEnergies Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a $0.8308 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. TotalEnergies’s payout ratio is 34.75%.

Hedge Funds Weigh In On TotalEnergies

A number of large investors have recently bought and sold shares of TTE. CWA Asset Management Group LLC bought a new stake in shares of TotalEnergies during the third quarter worth $823,000. Crossmark Global Holdings Inc. increased its stake in TotalEnergies by 48.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 167,364 shares of the company’s stock worth $10,815,000 after buying an additional 54,478 shares during the period. Logan Capital Management Inc. lifted its holdings in TotalEnergies by 22.8% during the 3rd quarter. Logan Capital Management Inc. now owns 71,757 shares of the company’s stock valued at $4,637,000 after buying an additional 13,331 shares in the last quarter. FMR LLC boosted its position in TotalEnergies by 2.7% in the 3rd 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 period. Finally, Equity Investment Corp grew its stake in TotalEnergies by 2.3% in the 3rd quarter. Equity Investment Corp now owns 1,862,312 shares of the company’s stock worth $120,343,000 after acquiring an additional 41,564 shares in the last quarter. Hedge funds and other institutional investors own 16.53% 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.