Group 1 - TotalEnergies SE's stock price has remained relatively stable on a total return basis despite a double-digit decline in the broader market since the end of January [1] - The company is being analyzed by buy-side hedge professionals who focus on fundamental, income-oriented, long-term analysis across various sectors globally [1] Group 2 - The article expresses the author's personal opinions and indicates a beneficial long position in TotalEnergies shares, either through stock ownership or derivatives [2]

Core Viewpoint - TotalEnergies SE has signed a 15-year Heads of Agreement with Energia Natural Dominicana for the delivery of 400,000 tons of liquefied natural gas (LNG) annually starting in mid-2027, which will enhance the Dominican Republic's clean energy capacity [1][2]. Company Overview - TotalEnergies has an integrated position across the LNG value chain, including production, transportation, and access to over 20 million tons per annum (Mtpa) of regasification capacity in Europe [4]. - The company's global LNG portfolio is projected to reach 40 Mtpa in 2024, supported by interests in liquefaction plants worldwide and a large fleet of LNG tankers [5]. - TotalEnergies aims to increase the share of natural gas in its sales mix to nearly 50% by 2030, while also focusing on reducing carbon emissions and eliminating methane emissions associated with the gas value chain [6]. Market Dynamics - Global demand for LNG is expected to rise by approximately 60% by 2040, driven by economic growth in Asia and efforts to reduce emissions in heavy industries and transportation [7]. - The rising demand for LNG is likely to benefit companies like Cheniere Energy and BP, which are key players in the global LNG supply [8]. Competitor Insights - Cheniere Energy is expanding its Corpus Christi LNG plant in Texas, adding 3 Mtpa to its capacity, which will total 18 Mtpa [9]. - The Zacks Consensus Estimate for Cheniere's 2025 sales indicates a year-over-year increase of 20.2%, with an average earnings surprise of 74.4% over the past four quarters [10]. - BP aims to achieve a 25 Mtpa LNG portfolio by 2025, with a long-term earnings growth rate of 7.86% and a projected 24% year-over-year increase in 2025 sales [11]. Stock Performance - In the past month, TotalEnergies shares have decreased by 9.5%, compared to a 12.8% decline in the industry [13].

Core Insights - NextDecade Corporation has signed a long-term LNG supply agreement with TotalEnergies, committing to 1.5 million tons per annum for 20 years, indexed to the Henry Hub price [1] - The partnership with TotalEnergies is an extension of their successful collaboration on the Rio Grande LNG Phase 1 project [2] - The Rio Grande LNG project is the largest privately funded LNG project in Texas, benefiting from its location near the Permian Basin and Eagle Ford shale, ensuring a reliable natural gas supply [3] Group 1: Agreement Details - The recent agreement brings NextDecade's total long-term contracts for Train 4 to 4.6 million tons per annum, which includes contracts with companies like Saudi Aramco [4] - The commercial agreements are expected to facilitate a positive Final Investment Decision (FID) for Train 4, indicating strong support for the project's advancement [4] Group 2: Future Outlook - TotalEnergies currently exports over 10 million tons per annum from the U.S. and aims to increase this to 15 million tons per annum by 2030, with the new agreement aiding in this goal [5] - NextDecade is focusing on the financial and logistical preparations necessary to bring Train 4 online, which could significantly impact both the company and the broader LNG market [6]

Company Overview - TotalEnergies SE Sponsored ADR (TTE) is headquartered in Paris and operates in the Oils-Energy sector, with a year-to-date price change of -2.07% [3] - The company currently pays a dividend of $0.61 per share, resulting in a dividend yield of 4.73%, which is higher than the Oil and Gas - Refining and Marketing industry's yield of 4.25% and the S&P 500's yield of 1.78% [3] Dividend Analysis - TotalEnergies has an annualized dividend of $2.52, reflecting a 2.5% increase from the previous year [4] - Over the past five years, the company has increased its dividend three times, averaging an annual increase of 1.07% [4] - The current payout ratio is 31%, indicating that the company pays out 31% of its trailing 12-month earnings per share as dividends [4] Earnings Expectations - The Zacks Consensus Estimate for TotalEnergies' earnings in 2025 is projected at $8.24 per share, representing a year-over-year growth rate of 6.05% [5] Investment Considerations - TotalEnergies is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [7] - The company is positioned as a more established option for income investors, contrasting with high-growth firms that typically do not offer dividends [6][7]

Core Insights - TotalEnergies SE (TTE) has completed the acquisition of VSB Group, enhancing its renewable energy portfolio in Germany, and has also acquired SN Power, focusing on hydropower projects in Africa [1][4] - The company is pursuing a multi-energy strategy, expanding its renewable capacity significantly through various acquisitions and projects [4][5] Group 1: Acquisitions - The acquisition of VSB Group strengthens TotalEnergies' integrated electricity business in Germany, which constitutes half of VSB's portfolio [2] - VSB Group adds 7 gigawatts (GW) of operational or under-construction capacity and over 15 GW in the pipeline, increasing TotalEnergies' renewable capacity in Europe to over 40 GW [3] - TotalEnergies has acquired SN Power, gaining a 28.3% stake in the Bujagali hydropower plant in Uganda and shares in additional projects in Malawi (360 MW) and Rwanda (206 MW) [4] - Contracts have been signed with RES for the acquisition of wind and solar projects in Alberta, totaling over 800 megawatts (MW) [5] Group 2: Renewable Energy Strategy - TotalEnergies aims to reach net zero by 2050 by developing a competitive portfolio that includes flexible assets and renewable energy sources [7] - The company plans to increase its gross renewable electricity generation capacity to 35 GW by 2025 and over 100 terawatt-hours of net electricity by 2030 [8] Group 3: Industry Context - Other companies in the industry, such as BP, Shell, and Equinor, are also expanding their renewable energy operations, with BP targeting a 60.6 GW renewables pipeline by the end of 2024 [10] - Shell has around 3.4 GW of renewable power generation capacity in operation and 4 GW under construction [11] - Equinor aims to reach 10-12 GW of renewable capacity by 2030 [12] Group 4: Stock Performance - TotalEnergies' stock has increased by 14% over the past three months, outperforming the industry average growth of 9.3% [13]

Financial Performance - In 2024, TotalEnergies reported IFRS net income of $15.8 billion and adjusted net income of $18.3 billion, with cash flow from operating activities of $30.9 billion[39]. - Net income attributable to TotalEnergies' shareholders was $15,758 million in 2024, down 26% from $21,384 million in 2023[62]. - Adjusted net income for 2024 was $18,264 million, a decrease of 21% compared to $23,176 million in 2023[63]. - Cash flow from operating activities was $30,854 million in 2024, a decrease of 24% from $40,679 million in 2023[64]. - The consolidated net income for TotalEnergies in 2024 was $16,031 million, a decrease from $21,510 million in 2023[150]. - Adjusted EBITDA for TotalEnergies in 2024 was $43,143 million, down from $50,030 million in 2023[151]. - Total revenues from sales in 2024 were $195,610 million, down from $218,945 million in 2023[152]. Segment Performance - The Exploration & Production segment generated adjusted net operating income of $10 billion, with a reserves replacement ratio of 157% and a proved reserves life index greater than 12 years[40]. - Integrated LNG segment achieved adjusted net operating income of $4.9 billion, with cash flow from operating activities of $5.2 billion, and launched several new projects including Marsa LNG in Oman and Ubeta in Nigeria[41]. - Integrated Power segment cash flow from operating activities was $3.0 billion, with net electricity production increasing 23% year-on-year to 41 TWh, contributing to a 17% reduction in average lifecycle carbon intensity[42]. - Downstream adjusted net operating income was $3.5 billion, down 44% from 2023 due to declining European refining margins, but cash flow from operating activities remained above $6 billion[43]. - Integrated Power adjusted net operating income increased to $2,173 million in 2024, up nearly 20% compared to $1,853 million in 2023[116]. - The adjusted net operating income for the Refining & Chemicals segment in 2024 was $2,160 million, a decrease of 54% from $4,654 million in 2023, attributed to lower refining margins[131]. Production and Sales - TotalEnergies' hydrocarbon production was 2,434 kboe/d in 2024, a decrease of 2% from 2,483 kboe/d in 2023[62]. - TotalEnergies expects more than 40 Mt of LNG sales in 2025, with average LNG selling prices anticipated to be above $10/Mbtu in the first quarter[48]. - For full-year 2024, LNG sales were down 10% compared to 2023, with adjusted net operating income dropping to $4,869 million, down 21% from $6,200 million in 2023[105]. - Total petroleum product sales in the Marketing & Services segment decreased by 2% in 2024 compared to 2023, with adjusted net operating income at $1,360 million, a 7% decline from $1,458 million[142]. Investments and Acquisitions - The company made acquisitions totaling $4,646 million in 2024, including interests in renewable energy and gas fields[64]. - TotalEnergies' net cash flow after organic investments was $12,088 million in 2024, down from $19,109 million in 2023, a decrease of 36.7%[161]. - Net investments in 2024 amounted to $17,829 million, with acquisitions net of asset sales at $1,406 million[153]. - The company reported a significant increase in acquisitions in Integrated LNG, totaling $1,417 million in 2024, compared to $1,253 million in 2023, an increase of 13.1%[155]. Financial Health and Ratios - Gearing at the end of 2024 was below 10%, indicating strong financial health for TotalEnergies[39]. - Return on equity (ROE) was 15.8% in 2024, down from 20.4% in 2023[60]. - The Gearing ratio for TotalEnergies rose to 8.3% in 2024 from 5.0% in 2023, indicating a higher leverage position[167]. - The net-debt-to-capital ratio increased to 8.3% in 2024 from 5.0% in 2023, primarily due to changes in net debt[183]. Dividends and Shareholder Returns - TotalEnergies plans to distribute a final 2024 dividend of €0.85/share, resulting in a 7% increase for the 2024 dividend to €3.22/share compared to 2023[44]. - TotalEnergies repurchased 120,463,232 shares in 2024, with a total cost of $7.33 billion, compared to 144,700,577 shares for $9.00 billion in 2023[182]. Market Conditions and Pricing - TotalEnergies' average liquids price realization increased by 1% to $77.1/b in 2024, while average gas price realization decreased by 16% to $5.54/Mbtu[66]. - The Brent price averaged $80.8/b in 2024, a decrease of 2% from $82.6/b in 2023[66]. - The European Refining Margin Marker (ERM) was $39.5 per ton in 2024, down from $71.0 per ton in 2023[128]. Strategic Changes and Sanctions - The company has ensured no further capital will be provided for new projects in Russia, adhering to European sanctions[208]. - TotalEnergies has suspended its rights and obligations under contracts with Arctic LNG 2 following US sanctions imposed on November 2, 2023[223]. - The company stopped producing lubricants in Russia by the end of May 2022 and announced the sale of these activities in March 2023[224].

Core Viewpoint - TotalEnergies SE (TTE) is investing in six battery storage projects with a total capacity of 221 megawatts (MW) and an investment of $172.5 million (€160 million) to enhance its clean energy portfolio and support the German power system [1][3]. Group 1: Investment and Project Details - TotalEnergies is investing in six battery storage projects with a total capacity of 221 MW and an investment of $172.5 million (€160 million) [1]. - The projects will utilize next-generation batteries supplied by Saft, a TotalEnergies affiliate, with construction starting in late 2024 and commissioning planned for early 2026 [2]. - These projects will significantly expand TotalEnergies' battery energy storage capacity in Germany, contributing to the resilience of the power system and accelerating renewable energy expansion [3]. Group 2: TotalEnergies' Clean Energy Strategy - TotalEnergies aims to reach net zero by 2050 by developing a competitive portfolio that combines flexible assets and renewable energy sources [5]. - By the end of 2024, TotalEnergies' gross renewable electricity generation installed capacity is expected to reach 26 GW, with plans to produce 35 GW by 2025 and over 100 terawatt-hours of net electricity by 2030 [6]. Group 3: Market Context and Competitors - The global battery energy storage market is projected to reach $25.6 billion by 2029, growing at a CAGR of 26.9%, driven by the increasing use of clean energy [7]. - Other companies, such as Canadian Solar Inc. (CSIQ), Emeren Group Ltd. (SOL), and SolarEdge Technologies Inc. (SEDG), are also focusing on battery storage projects and are likely to benefit from the expanding market [8]. Group 4: Stock Performance - In the past three months, TotalEnergies' shares have risen by 19%, outperforming the industry's growth of 11.9% [13].

Donald Trump is a polarizing political figure, and he has come into office with a long list of plans. While not every president is as polarizing as Trump, every single president comes into office with plans. That's the key investment issue to think about, whether or not the current energy plan -- Trump's energy plan -- succeeds in its goals or fails. If you're looking to own an energy stock for more than the next four years, you'll probably want to consider these three energy giants.1. ExxonMobil's dividend ...

Group 1 - TotalEnergies SE is an integrated multinational energy company involved in the entire oil and gas chain, including exploration, production, transportation, refining, trading, and marketing of petroleum products [2] - The company has diversified operations across various industries such as transportation, automotive, aerospace, energy, housing, and manufacturing, with a global presence in regions including Asia-Pacific, Africa, Europe, the Middle East, North America, and Central America [3] - The rebranding to TotalEnergies in May 2021 reflects the company's commitment to investing in green electricity production [3] Group 2 - The report on TotalEnergies provides insights into its technology activities, including digital transformation strategies, innovation programs, and technology initiatives [1][4] - Key topics covered in the report include technology initiatives, partnerships, product launches, ICT budgets, and major ICT contracts [6] - The report also highlights the company's venture arm, investments, acquisitions, and a network map of partnerships [6]

Financial Data and Key Metrics Changes - TotalEnergies reported a net adjusted income of $18.3 billion and an IFRS result of $15.8 billion, impacted by impairments and inventory valuation effects [26][29] - The company achieved a return on equity (ROE) of 15.8% and a return on capital employed (ROACE) of 14.8%, ranking first among peers in ROACE [27][55] - Free cash flow (FFO) generated was approximately $29.9 billion, with a cash flow from operations above 2.5%, reaching 2.6% in 2024 [23][28] Business Line Data and Key Metrics Changes - The Exploration & Production (E&P) segment generated a cash flow of $17 billion, benefiting from the startup of several oil projects [23] - Integrated LNG business cash flow was $4.9 billion, negatively impacted by lower average LNG prices but rebounded in Q4 [24][41] - Integrated Power achieved a cash flow of $2.6 billion, maintaining strong performance despite a softer price environment [22][25] Market Data and Key Metrics Changes - The company reported a reserve replacement ratio above 150%, indicating strong reserve replenishment capabilities [21][38] - The average LNG price was above $10 per MMBtu, with Q4 results reflecting improved market conditions [41][72] - The company anticipates a tighter gas market in 2025 due to colder weather and the end of the Russian-Ukrainian transit agreement [42][71] Company Strategy and Development Direction - TotalEnergies' strategy focuses on balanced growth in oil and gas, particularly LNG, and integrated power, with a commitment to free cash flow growth [17][21] - The company plans to allocate one-third of its 2024 CapEx to new oil and gas projects and $4.8 billion to low carbon energy [31][79] - The company aims for a 3% annual production growth through 2030, supported by a robust project pipeline [96][100] Management's Comments on Operating Environment and Future Outlook - Management noted a stable oil market with expected demand growth of 1.1 million barrels per day in 2025, driven by recovery in China and growth in India [65][66] - The gas market is expected to experience increased volatility and higher prices in 2025, benefiting TotalEnergies' position as a major energy exporter [72][74] - The company is focused on maintaining a strong balance sheet while increasing shareholder returns, with a dividend increase of 7.7% planned for 2025 [29][100] Other Important Information - TotalEnergies maintained a gearing ratio of 8.3% at year-end, reflecting a strong balance sheet [29] - The company executed a $2 billion buyback program per quarter, totaling $8 billion for 2024 [28] - The company is actively managing its portfolio through selective M&A and divestments, including exits from certain upstream assets [32][33] Q&A Session Summary Question: What are the expectations for oil demand in 2025? - Management expects an increase in oil demand of 1.1 million barrels per day, with significant contributions from India and China [65][66] Question: How is TotalEnergies positioned in the gas market for 2025? - The company anticipates a tighter gas market due to colder weather and reduced Russian gas supplies, which will create more competition and arbitrage opportunities [71][72] Question: What are the company's plans for shareholder returns? - TotalEnergies plans to increase dividends by 7.7% and maintain a strong focus on free cash flow generation [29][100]