Wedge Capital Management L L P NC Grows Stake in TotalEnergies SE (NYSE:TTE)

Wedge Capital Management L L P NC increased its position in shares of TotalEnergies SE (NYSE:TTE) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 351,000 shares of the company’s stock after purchasing an additional 31,194 shares during the quarter. Wedge Capital Management L L P NC’s holdings in TotalEnergies were worth $19,130,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in shares of TotalEnergies in the third quarter valued at about $26,000. Continuum Advisory LLC lifted its stake in TotalEnergies by 70.4% in the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after buying an additional 183 shares in the last quarter. Boit C F David acquired a new stake in TotalEnergies during the 3rd quarter valued at $32,000. Maryland Capital Advisors Inc. purchased a new position in TotalEnergies during the third quarter worth $32,000. Finally, Eastern Bank acquired a new position in shares of TotalEnergies in the third quarter worth $32,000. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

TotalEnergies Trading Up 0.8 %

NYSE:TTE opened at $59.47 on Friday. TotalEnergies SE has a 52 week low of $53.29 and a 52 week high of $74.97. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.39. The company has a market cap of $140.43 billion, a PE ratio of 8.43, a P/E/G ratio of 1.96 and a beta of 0.61. The business’s 50 day moving average is $57.01 and its two-hundred day moving average is $63.63.

TotalEnergies Cuts Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.8308 per share. The ex-dividend date is Tuesday, December 31st. TotalEnergies’s payout ratio is 34.75%.

Wall Street Analysts Forecast Growth

TTE has been the subject of several analyst reports. BNP Paribas downgraded shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 27th. UBS Group raised shares of TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 9th. Barclays upgraded shares of TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 2nd. Scotiabank reduced their price target on TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Piper Sandler lowered their price objective on TotalEnergies from $77.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.42.

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.