Why Is TotalEnergies Stock Gaining Thursday?

by | Apr 16, 2026 | General

TotalEnergies SE (NYSE:TTE) shares rose Thursday after the company said strong trading should support first-quarter earnings, despite an output hit from Middle East tensions.

Production Outlook

The company expects hydrocarbon production to exceed its annual organic growth target of 3%. Growth is driven by the start-up of the Lapa SW and Mabruk projects.

However, output will be partly offset by a loss of about 100,000 barrels of oil equivalent per day in the Middle East during the quarter. Overall, TotalEnergies said oil and gas production should remain broadly stable compared with the fourth quarter of 2025.

Upstream Boost From Prices

The exploration and production segment is expected to post a sharp increase in results. This growth is supported by higher average liquids prices, up $12.4 per barrel, including UAE price lag effects.

New project contributions are also expected to support performance.

LNG Growth Accelerates

TotalEnergies said its integrated LNG segment should deliver significantly higher earnings and cash flow. The increase is driven by about 10% higher LNG output.

In addition, strong trading activity amid market volatility is expected to support results.

Integrated Power Holds Steady

The integrated power segment is expected to deliver results broadly in line with the first quarter of 2025. The company forecasts about $500 million in results and $600 million in cash flow.

There were no asset farm-downs in the quarter, compared with the fourth quarter of 2025.

Downstream Recovery

Downstream performance is expected to improve. Refinery utilization is projected to exceed 90%, supported by full operational recovery.

Crude and product trading was strong in March. Meanwhile, marketing and services results are expected to remain broadly in line with the first quarter of 2025, due to seasonality.

Earnings & Analyst Outlook

The countdown is on: TotalEnergies is set to report earnings on April 29, 2026 (confirmed).

  • EPS Estimate: $2.01 (Up from $1.83 YoY)
  • Revenue Estimate: $45.60 Billion (Down from $52.25 Billion YoY)
  • Valuation: P/E of 15.1x (Suggests fair valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $78.33. Recent analyst moves include:

  • Piper Sandler: Neutral (Raises Target to $92.00) (March 12)
  • JP Morgan: Upgraded to Overweight (March 2)
  • Freedom Broker: Downgraded to Sell (Maintains Target to $73.00) (February 13)

TTE Price Action: TotalEnergies shares were up 4.38% at $90.87 at the time of publication on Thursday, according to Benzinga Pro data.

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