TotalEnergies SE (NYSE:TTE) shares are up during Thursday’s premarket session as it starts production at France’s first advanced plastics recycling plant.

This initiative marks a significant step in converting the Grandpuits refinery into a zero-crude platform.

Launches 15,000-Ton Recycling Plant

The new plant, located southeast of Paris, has an annual capacity of 15,000 tons. It utilizes innovative recycling technology to convert hard-to-recycle plastic waste into synthetic oil.

This synthetic oil will serve as a petrochemical feedstock, allowing the production of recycled plastics that meet stringent quality requirements for food contact and medical applications.

Notably, TotalEnergies has partnered with Citeo and Paprec in 2023 to ensure a steady supply of plastic waste for the plant, which is part of a broader strategy to reduce environmental impact.

Valérie Goff, Senior Vice President, Renewables, Fuels & Chemicals at TotalEnergies added, “The start-up of the first advanced plastics recycling plant in France is an important milestone in the conversion of our Grandpuits site into a zero-crude complex. Alongside Plastic Energy, contributing its technology, and our partners Citeo and Paprec, we are supporting the emergence of a brand-new French plastic recycling activity,”

Angola Plant Production Commencement

This week, the company started production at Angola's Quiluma offshore gas field, its first non-associated gas development.

The project is expected to produce about 330 million cubic feet per day, supplying the Angola LNG plant and supporting exports to Europe and Asia.

TTE Stock Technical Analysis

The broader market experienced declines on Wednesday, with the S&P 500 falling 0.26% and the Nasdaq down 0.44%. TotalEnergies’ shares are moving higher despite this downturn, indicating that the company’s news may be driving investor interest independently of the broader market trends.

The stock is currently trading 10.2% above its 20-day simple moving average (SMA) and 27.4% above its 100-day SMA, demonstrating longer-term strength. Shares have increased 35.25% over the past 12 months and are currently positioned closer to their 52-week highs than lows.

TTE Upcoming Earnings And Analyst Outlook

TotalEnergies SE is slated to provide its next financial update on April 29, 2026 (estimated).

  • EPS Estimate: $1.83 (Down from $1.83 YoY)
  • Revenue Estimate: $43.83 Billion (Down from $52.25 Billion YoY)
  • Valuation: P/E of 15.0x (Indicates fair valuation)

Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $70.40. Recent analyst moves include:

  • Piper Sandler: Neutral (Raises Target to $92.00) (Mar. 12)
  • JP Morgan: Upgraded to Overweight (Mar. 2)
  • TD Cowen: Hold (Raises Target to $70.00) (Jan. 22)

TTE ETF Weights: FEZ 2.86%, GNR 2.77%

  • State Street SPDR EURO STOXX 50 ETF (NYSE:FEZ): 2.86% Weight
  • SPDR DJ Euro STOXX 50 Etf (NYSE:FEZ): 2.86% Weight
  • State Street SPDR S&P Global Natural Resources ETF (NYSE:GNR): 2.77% Weight

Significance: Because TTE carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

TTE Stock Price Activity: TotalEnergies shares were up 2.67% at $89.22 during premarket trading on Thursday, according to Benzinga Pro data.

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