Fisher Asset Management LLC recently announced the acquisition of new stake in TotalEnergies SE (NYSE:TTE). The institutional investor has increased its shareholding in the Energy company by 1.02% to 23.33 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 0.94% valued currently at $1.44 billion. In addition, Wellington Management Co. LLP raised its holdings by 1.04 million to 10.68 million shares. And Managed Account Advisors LLC has lifted its position by 20.45% or 0.77 million shares – to 4.56 million shares.
With over 2.95 million TotalEnergies SE (TTE) shares trading Monday and a closing price of $59.16 on the day, the dollar volume was approximately $174.62 million. The shares have shown a positive half year performance of 18.77% and its price on 03/13/23 lost nearly -3.03%. Currently, there are 2.52B common shares owned by the public and among those 2.42B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 28 analysts who have offered their price forecasts for TTE have a consensus price objective of $71.52. The analysts have set the share’s price value over the next 12 months at a high of $84.78 and a low of $54.69. The average price target is 19.75% above its recent price level and a downside to the estimated low will see the stock lose -8.17% over that period. But an upside of 30.22% will see the stock hit the forecast high price target while median target price for the stock is $72.03.
The top 3 mutual fund holders in TotalEnergies SE are Hartford Dividend & Growth Fund, Fidelity Low Priced Stock Fund, and Franklin Income Fund. Hartford Dividend & Growth Fund owns 4.89 million shares of the company’s stock, all valued at over $302.67 million. Franklin Income Fund now owns shares totaling to 0.16% of the shares outstanding.
Shares of TotalEnergies SE (NYSE: TTE) opened at $59.02, down -$1.99 from a prior closing price of $61.01. However, the script later moved the day high at 60.11, down -3.03%. The company’s stock has a 5-day price change of -6.79% and -1.00% over the past three months. TTE shares are trading -4.70% year to date (YTD), with the 12-month market performance up to 18.52% higher. It has a 12-month low price of $43.84 and touched a high of $65.05 over the same period. TTE has an average intraday trading volume of 1.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.76%, -5.51%, and 6.69% respectively.
Institutional ownership of TotalEnergies SE (NYSE: TTE) shares accounts for 7.00% of the company’s 2.52B shares outstanding. Mutual fund holders own 1.92%, while other institutional holders and individual stakeholders account for 4.82% and — respectively.
It has a market capitalization of $148.90B and a beta (3y monthly) value of 0.82. The stock’s trailing 12-month PE ratio is 7.42, while the earnings-per-share (ttm) stands at $7.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.03% over the week and 1.57% over the month.
Analysts forecast that TotalEnergies SE (TTE) will achieve an EPS of $2.76 for the current quarter, $2.63 for the next quarter and $9.87 for 2024. The lowest estimate earnings-per-share for the quarter is $2.28 while analysts give the company a high EPS estimate of $3.35. Comparatively, EPS for the current quarter was $3.4 a year ago. Earnings per share for the fiscal year are expected to increase by 303.90%, and -14.30% over the next financial year. EPS should shrink at an annualized rate of -2.00% over the next five years, compared to 18.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 28 brokerage firm advisors rate TotalEnergies SE (TTE) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 10 of the 28 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the TTE, a number of firms have released research notes about the stock. Wolfe Research stated their Outperform rating for the stock in a research note on January 12, 2023, with the firm’s price target at $72. JP Morgan on their part issued Overweight rating on September 26, 2022.
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