Letko Brosseau & Associates Inc. Invests $72.24 Million in TotalEnergies SE Sponsored ADR $TTE

Letko Brosseau & Associates Inc. acquired a new position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,106,404 shares of the company’s stock, valued at approximately $72,235,000.

Other large investors also recently modified their holdings of the company. Aberdeen Group plc lifted its stake in TotalEnergies by 14.5% in the 4th quarter. Aberdeen Group plc now owns 384,040 shares of the company’s stock valued at $25,124,000 after purchasing an additional 48,640 shares during the last quarter. ABN AMRO Bank N.V. acquired a new stake in TotalEnergies in the 4th quarter valued at about $122,831,000. Assetmark Inc. lifted its stake in TotalEnergies by 8.1% in the 4th quarter. Assetmark Inc. now owns 246,475 shares of the company’s stock valued at $16,124,000 after purchasing an additional 18,480 shares during the last quarter. Vanguard Group Inc. acquired a new stake in TotalEnergies in the 4th quarter valued at about $5,337,330,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in TotalEnergies in the 4th quarter valued at about $830,000. 16.53% of the stock is currently owned by institutional investors and hedge funds.

TotalEnergies Trading Down 0.2%

Shares of TTE stock opened at $88.42 on Wednesday. The firm has a 50 day moving average price of $90.41 and a two-hundred day moving average price of $78.67. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $212.00 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 3.00 and a beta of 0.12. TotalEnergies SE Sponsored ADR has a 12-month low of $57.39 and a 12-month high of $94.17.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.23. The firm had revenue of $49.52 billion during the quarter, compared to the consensus estimate of $44.58 billion. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. As a group, analysts predict that TotalEnergies SE Sponsored ADR will post 11.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TTE. Morgan Stanley reiterated an “overweight” rating on shares of TotalEnergies in a research note on Tuesday, May 12th. TD Cowen reiterated a “buy” rating on shares of TotalEnergies in a research note on Monday, April 20th. Wall Street Zen downgraded shares of TotalEnergies from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. BNP Paribas Exane upgraded shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a research note on Friday, April 17th. Finally, Freedom Capital downgraded shares of TotalEnergies from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, February 13th. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, TotalEnergies currently has a consensus rating of “Moderate Buy” and an average price target of $84.33.

About TotalEnergies

TotalEnergies SE (NYSE: TTE) is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.