TotalEnergies SE (NYSE:TTE) announced on Monday that it has signed settlement agreements with the U.S. Department of the Interior (DOI) to relinquish its offshore wind leases in the United States.

The agreements cover the Carolina Long Bay lease (Lease OCS-A 0545) and the New York Bight lease (Lease OCS-A 0538), both awarded in 2022. As a result, the company will no longer develop offshore wind projects in the U.S.

Settlement Terms

Under the settlement, TotalEnergies will recover the lease fees it paid. It will also invest an equal amount in U.S. gas and power production, along with export capacity.

The company said its studies showed that offshore wind projects in the United States are more expensive than in Europe. It added that these projects could hurt power affordability for U.S. consumers. At the same time, other technologies can meet rising electricity demand at a lower cost. As a result, TotalEnergies said there is no need to allocate capital to offshore wind in the U.S.

Pivot to LNG and Gas

"TotalEnergies is pleased to sign these settlement agreements with the DOI and to support the Administration's Energy Policy. Considering that the development of offshore wind projects is not in the country's interest, we have decided to renounce offshore wind development in the United States, in exchange for the reimbursement of the lease fees," said Patrick Pouyanné, Chairman and CEO.

"Furthermore, these agreements, under which we will reinvest the refunded lease fees to finance the construction of the 29 Mt Rio Grande LNG plant and the development of our oil and gas activities, allows us to support the development of U.S. gas production and export. These investments will contribute to supplying Europe with much-needed LNG from the U.S. and provide gas for U.S. data center development. We believe this is a more efficient use of capital in the United States."

Alaska LNG Deal

Separately, TotalEnergies recently signed a letter of intent with Glenfarne, the lead developer of the Alaska LNG project. The deal covers the long-term offtake of 2 million tons per year of liquefied natural gas over 20 years. It remains subject to a final investment decision.

Technical Analysis

TotalEnergies traded about 8.8% above its 20-day SMA ($81.98) and roughly 27.0% above its 100-day SMA ($70.24), keeping the longer-term trend firmly pointed higher. Shares have gained 41.60% over the past 12 months and sat closer to the 52-week high ($91.38) than the low ($52.78).

RSI was 77.33, which is overbought and often signals the stock may need to cool off or consolidate even if the trend stays intact. MACD remained bullish, with the MACD line at 3.5379 above the signal line at 2.8524 (histogram 0.6854), and the golden cross in July (July 16, 2025) continues to support the broader uptrend.

The combination of overbought RSI (above 70) and bullish MACD suggests mixed momentum.

  • Key Resistance: $91.50
  • Key Support: $82.00

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 29, 2026 (estimated) earnings report.

  • EPS Estimate: $1.92 (Up from $1.83 YoY)
  • Revenue Estimate: $43.67 Billion (Down from $52.25 Billion YoY)
  • Valuation: P/E of 15.4x (Suggests fair valuation relative to peers)

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)

Top ETF Exposure

  • SPDR DJ Euro STOXX 50 ETF (NYSE:FEZ): 2.86% Weight
  • SPDR S&P Global Natural Resources ETF (NYSE:GNR): 2.77% Weight
  • Invesco FTSE RAFI Developed Markets ex-US ETF (NYSE:PXF): 1.36% 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 Price Action: TotalEnergies shares were down 0.43% at $88.76 during premarket trading on Tuesday. The stock is approaching its 52-week high of $91.38, according to Benzinga Pro data.

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