Fred Alger Management LLC Grows Stock Holdings in TotalEnergies SE (NYSE:TTE)

Fred Alger Management LLC boosted its holdings in TotalEnergies SE (NYSE:TTE) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,388 shares of the company’s stock after buying an additional 4,846 shares during the quarter. Fred Alger Management LLC’s holdings in TotalEnergies were worth $4,807,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in TotalEnergies by 6,367.4% during the third quarter. International Assets Investment Management LLC now owns 367,607 shares of the company’s stock worth $23,755,000 after purchasing an additional 361,923 shares in the last quarter. FMR LLC raised its stake in TotalEnergies by 2.7% during the 3rd quarter. FMR LLC now owns 12,445,228 shares of the company’s stock worth $804,211,000 after acquiring an additional 324,033 shares in the last quarter. DRW Securities LLC lifted its position in TotalEnergies by 134.5% in the third quarter. DRW Securities LLC now owns 64,209 shares of the company’s stock valued at $4,149,000 after acquiring an additional 250,427 shares during the last quarter. Generate Investment Management Ltd acquired a new position in TotalEnergies in the second quarter valued at $13,306,000. Finally, Mediolanum International Funds Ltd purchased a new position in shares of TotalEnergies during the third quarter worth about $11,504,000. Hedge funds and other institutional investors own 13.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. The Goldman Sachs Group raised TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Scotiabank reduced their price objective on TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. TD Cowen lowered shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Barclays upgraded shares of TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, UBS Group raised shares of TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.75.

TotalEnergies Stock Performance

Shares of TTE opened at $57.99 on Friday. The stock has a market capitalization of $136.94 billion, a P/E ratio of 8.23, a P/E/G ratio of 1.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.10. TotalEnergies SE has a 1 year low of $56.69 and a 1 year high of $74.97. The company’s fifty day moving average is $63.73 and its two-hundred day moving average is $66.96.

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.