Bruce G. Allen Investments LLC Sells 674 Shares of TotalEnergies SE (NYSE:TTE)

Bruce G. Allen Investments LLC lowered its stake in TotalEnergies SE (NYSE:TTE) by 19.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,868 shares of the company’s stock after selling 674 shares during the period. Bruce G. Allen Investments LLC’s holdings in TotalEnergies were worth $156,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. raised its holdings in TotalEnergies by 12.4% in the third quarter. Mather Group LLC. now owns 1,312 shares of the company’s stock worth $85,000 after purchasing an additional 145 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in TotalEnergies by 0.6% in the third quarter. Venturi Wealth Management LLC now owns 27,751 shares of the company’s stock worth $1,793,000 after purchasing an additional 165 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of TotalEnergies by 1.0% during the third quarter. Integrated Wealth Concepts LLC now owns 16,795 shares of the company’s stock valued at $1,085,000 after purchasing an additional 169 shares in the last quarter. Tradition Wealth Management LLC lifted its holdings in shares of TotalEnergies by 2.5% during the third quarter. Tradition Wealth Management LLC now owns 7,124 shares of the company’s stock valued at $460,000 after purchasing an additional 171 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in shares of TotalEnergies by 2.2% in the 3rd quarter. Lake Street Advisors Group LLC now owns 8,595 shares of the company’s stock worth $563,000 after purchasing an additional 181 shares in the last quarter. 16.53% of the stock is owned by hedge funds and other institutional investors.

TotalEnergies Stock Performance

TTE traded down $0.06 during mid-day trading on Friday, reaching $56.73. 1,614,414 shares of the company traded hands, compared to its average volume of 1,776,729. The stock has a market capitalization of $133.96 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.93 and a beta of 0.61. 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’s fifty day moving average price is $57.55 and its 200-day moving average price is $64.02.

TotalEnergies Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, January 21st. Shareholders 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 payout ratio is 34.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TTE. Morgan Stanley reiterated an “equal weight” rating and set a $64.10 price objective (down previously from $70.40) on shares of TotalEnergies in a research note on Tuesday. The Goldman Sachs Group upgraded shares of TotalEnergies to a “hold” rating in a research note on Thursday, October 3rd. TD Cowen downgraded shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. BNP Paribas downgraded shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada raised TotalEnergies from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 5th. Six 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.42.

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.