TotalEnergies (NYSE:TTE) Price Target Cut to $62.00 by Analysts at Piper Sandler

TotalEnergies (NYSE:TTE) had its price objective lowered by Piper Sandler from $77.00 to $62.00 in a report released on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other analysts have also weighed in on TTE. Royal Bank of Canada upgraded TotalEnergies from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 5th. The Goldman Sachs Group raised shares of TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Scotiabank reduced their price objective on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Barclays upgraded shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas cut shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, TotalEnergies presently has an average rating of “Moderate Buy” and a consensus price target of $74.50.

TotalEnergies Price Performance

Shares of NYSE:TTE opened at $53.66 on Thursday. The stock’s 50 day moving average price is $60.50 and its 200 day moving average price is $65.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market cap of $126.71 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 1.93 and a beta of 0.61. TotalEnergies has a 12 month low of $53.56 and a 12 month high of $74.97.

TotalEnergies Cuts Dividend

The company also recently declared a dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a $0.8308 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. TotalEnergies’s dividend payout ratio is 34.75%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in shares of TotalEnergies in the third quarter valued at about $26,000. Continuum Advisory LLC increased its position in TotalEnergies by 70.4% in the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock worth $27,000 after buying an additional 183 shares during the period. Larson Financial Group LLC lifted its holdings in shares of TotalEnergies by 100.5% during the second quarter. Larson Financial Group LLC now owns 423 shares of the company’s stock worth $28,000 after buying an additional 212 shares during the last quarter. Boit C F David bought a new stake in shares of TotalEnergies in the third quarter valued at approximately $32,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in shares of TotalEnergies in the third quarter worth $32,000. 16.53% of the stock is currently owned by institutional investors and hedge funds.

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.