TotalEnergies (NYSE:TTE) Hits New 52-Week Low – What’s Next?

TotalEnergies SE (NYSE:TTE)’s share price reached a new 52-week low on Monday . The stock traded as low as $58.45 and last traded at $58.58, with a volume of 1088679 shares trading hands. The stock had previously closed at $59.66.

Analysts Set New Price Targets

TTE has been the subject of a number of research reports. BNP Paribas downgraded shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a research note on Thursday, October 3rd. TD Cowen downgraded TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. Scotiabank reduced their price target on TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, UBS Group upgraded TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.75.

TotalEnergies Stock Down 0.7 %

The firm has a market capitalization of $134.97 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.64. 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 business has a 50-day moving average price of $64.41 and a 200-day moving average price of $67.21.

Hedge Funds Weigh In On TotalEnergies

A number of hedge funds have recently modified their holdings of TTE. Toronto Dominion Bank raised its position in TotalEnergies by 17.5% in the first quarter. Toronto Dominion Bank now owns 3,444 shares of the company’s stock valued at $237,000 after purchasing an additional 514 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of TotalEnergies during the first quarter worth about $710,000. Tidal Investments LLC boosted its stake in shares of TotalEnergies by 1.2% in the first quarter. Tidal Investments LLC now owns 63,095 shares of the company’s stock valued at $4,343,000 after purchasing an additional 756 shares during the period. New Covenant Trust Company N.A. acquired a new position in shares of TotalEnergies in the first quarter valued at approximately $38,000. Finally, Cetera Investment Advisers grew its holdings in shares of 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 in the last quarter. 13.22% of the stock is currently owned by hedge funds and other institutional investors.

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.