TotalEnergies (NYSE:TTE) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of TotalEnergies (NYSE:TTE) from a sector perform rating to an outperform rating in a research report released on Thursday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently commented on the stock. Barclays raised shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 2nd. 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 objective 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. The Goldman Sachs Group raised TotalEnergies to a “hold” rating in a research note on Thursday, October 3rd. Finally, UBS Group raised TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, TotalEnergies currently has an average rating of “Moderate Buy” and a consensus price target of $78.75.

TotalEnergies Stock Down 0.9 %

TTE opened at $56.91 on Thursday. 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 cap of $134.39 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 1.84 and a beta of 0.61. TotalEnergies has a one year low of $56.20 and a one year high of $74.97. The business’s fifty day moving average is $62.69 and its two-hundred day moving average is $66.40.

TotalEnergies Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.8308 dividend. The ex-dividend date is Tuesday, December 31st. TotalEnergies’s dividend payout ratio is currently 36.74%.

Institutional Trading of TotalEnergies

A number of institutional investors and hedge funds have recently bought and sold shares of TTE. Logan Capital Management Inc. grew its stake in TotalEnergies by 22.8% during the third quarter. Logan Capital Management Inc. now owns 71,757 shares of the company’s stock worth $4,637,000 after buying an additional 13,331 shares during the period. Franklin Resources Inc. boosted its position in TotalEnergies by 62.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,961 shares of the company’s stock worth $273,323,000 after purchasing an additional 1,546,866 shares during the period. Synovus Financial Corp increased its holdings in TotalEnergies by 10.8% in the 3rd quarter. Synovus Financial Corp now owns 92,252 shares of the company’s stock valued at $5,961,000 after purchasing an additional 8,962 shares in the last quarter. Tidal Investments LLC raised its position in TotalEnergies by 5.2% in the third quarter. Tidal Investments LLC now owns 62,692 shares of the company’s stock valued at $4,051,000 after purchasing an additional 3,112 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of TotalEnergies during the third quarter worth about $303,000. Institutional investors and hedge funds 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.