TotalEnergies SE (NYSE:TTE) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its position in TotalEnergies SE (NYSE:TTE) by 74.5% during the 3rd quarter, Holdings Channel reports. The fund owned 51,536 shares of the company’s stock after acquiring an additional 21,996 shares during the quarter. Pinnacle Associates Ltd.’s holdings in TotalEnergies were worth $3,473,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in TotalEnergies by 159,211.0% in the first quarter. BNP Paribas Financial Markets now owns 434,919 shares of the company’s stock valued at $29,935,000 after purchasing an additional 434,646 shares during the last quarter. Gabelli Funds LLC increased its stake in 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 during the last quarter. Tweedy Browne Co LLC purchased a new position in TotalEnergies in the first quarter valued at approximately $10,852,000. National Bank of Canada FI increased its stake in TotalEnergies by 25.7% in the first quarter. National Bank of Canada FI now owns 275,983 shares of the company’s stock valued at $20,370,000 after purchasing an additional 56,403 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake 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 purchasing an additional 110,497 shares during the last quarter. 13.22% of the stock is currently owned by hedge funds and other institutional investors.

TotalEnergies Stock Performance

NYSE:TTE opened at $62.58 on Friday. The firm’s fifty day moving average price is $67.02 and its 200 day moving average price is $68.75. TotalEnergies SE has a 1-year low of $61.95 and a 1-year high of $74.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 0.87. The firm has a market cap of $147.78 billion, a price-to-earnings ratio of 7.10, a price-to-earnings-growth ratio of 2.20 and a beta of 0.63.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TTE. Wolfe Research began coverage on shares of TotalEnergies in a research report on Thursday, July 18th. They set an “outperform” rating and a $87.00 target price on the stock. The Goldman Sachs Group upgraded shares of TotalEnergies to a “hold” rating in a research report on Thursday, October 3rd. Scotiabank lowered their target price on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Barclays upgraded shares of TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, UBS Group upgraded shares of TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 9th. Five investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.75.

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.