Mackenzie Financial Corp Decreases Stock Position in TotalEnergies SE (NYSE:TTE)

Mackenzie Financial Corp reduced its holdings in shares of TotalEnergies SE (NYSE:TTE) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,089,367 shares of the company’s stock after selling 55,892 shares during the quarter. Mackenzie Financial Corp’s holdings in TotalEnergies were worth $72,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. North Star Investment Management Corp. increased its stake in shares of TotalEnergies by 310.0% during the 1st quarter. North Star Investment Management Corp. now owns 410 shares of the company’s stock worth $28,000 after purchasing an additional 310 shares in the last quarter. Larson Financial Group LLC increased its position in TotalEnergies by 100.5% during the second quarter. Larson Financial Group LLC now owns 423 shares of the company’s stock worth $28,000 after buying an additional 212 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of TotalEnergies in the first quarter worth $29,000. Creekmur Asset Management LLC purchased a new stake in shares of TotalEnergies in the fourth quarter valued at $31,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of TotalEnergies during the first quarter valued at $38,000. Institutional investors and hedge funds own 13.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TTE. Scotiabank reduced their target price on shares of TotalEnergies from $86.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. TD Cowen upped their price objective on shares of TotalEnergies from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wolfe Research began coverage on shares of TotalEnergies in a research note on Thursday, July 18th. They issued an “outperform” rating and a $87.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, TotalEnergies presently has an average rating of “Hold” and a consensus target price of $80.00.

TotalEnergies Stock Performance

Shares of TTE stock opened at $66.17 on Friday. The firm has a market capitalization of $156.26 billion, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 1.85 and a beta of 0.64. The company has a 50 day moving average price of $67.76 and a 200 day moving average price of $69.41. TotalEnergies SE has a one year low of $62.28 and a one year high of $74.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 1.11.

TotalEnergies (NYSE:TTE) last issued its earnings results on Thursday, July 25th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.13). The firm had revenue of $53.74 billion during the quarter, compared to analyst estimates of $60.45 billion. TotalEnergies had a net margin of 9.49% and a return on equity of 17.92%. During the same quarter in the previous year, the business posted $1.99 EPS. Sell-side analysts anticipate that TotalEnergies SE will post 8.42 EPS for the current year.

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.