Salem Investment Counselors Inc. Sells 352 Shares of TotalEnergies SE (NYSE:TTE)

Salem Investment Counselors Inc. cut its position in shares of TotalEnergies SE (NYSE:TTE) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,411 shares of the company’s stock after selling 352 shares during the period. Salem Investment Counselors Inc.’s holdings in TotalEnergies were worth $8,521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its stake in shares of TotalEnergies by 49.9% in the 4th quarter. Cerity Partners LLC now owns 53,019 shares of the company’s stock valued at $3,578,000 after purchasing an additional 17,658 shares during the last quarter. Cloverfields Capital Group LP lifted its stake in shares of TotalEnergies by 30.1% in the 4th quarter. Cloverfields Capital Group LP now owns 52,163 shares of the company’s stock valued at $3,515,000 after purchasing an additional 12,072 shares during the last quarter. Capital Wealth Planning LLC lifted its stake in shares of TotalEnergies by 94.8% in the 4th quarter. Capital Wealth Planning LLC now owns 38,420 shares of the company’s stock valued at $2,589,000 after purchasing an additional 18,699 shares during the last quarter. Townsend & Associates Inc lifted its stake in shares of TotalEnergies by 58.0% in the 4th quarter. Townsend & Associates Inc now owns 219,759 shares of the company’s stock valued at $14,117,000 after purchasing an additional 80,681 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of TotalEnergies by 1,409.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 29,050 shares of the company’s stock valued at $1,957,000 after purchasing an additional 27,125 shares during the last quarter. 13.22% of the stock is owned by institutional investors.

TotalEnergies Stock Performance

TTE traded down $0.72 on Friday, reaching $65.76. 1,366,810 shares of the stock were exchanged, compared to its average volume of 1,469,576. The firm has a market capitalization of $154.65 billion, a PE ratio of 7.42, a PEG ratio of 1.67 and a beta of 0.67. The company’s 50-day moving average price is $71.17 and its 200 day moving average price is $68.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.09 and a quick ratio of 0.87. TotalEnergies SE has a fifty-two week low of $54.94 and a fifty-two week high of $74.97.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.18. TotalEnergies had a return on equity of 18.30% and a net margin of 9.52%. The firm had revenue of $56.28 billion during the quarter, compared to analyst estimates of $59.64 billion. As a group, sell-side analysts forecast that TotalEnergies SE will post 9.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their price objective on TotalEnergies from $75.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Scotiabank raised their price target on TotalEnergies from $74.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.75.

Insiders Place Their Bets

In related news, Director Se Totalenergies purchased 196,964 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the acquisition, the director now owns 295,235 shares in the company, valued at $6,749,072.10. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

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.