On Friday, TotalEnergies SE (NYSE:TTE) approved a $1.2 billion final investment decision for the Mirny wind and battery project in Kazakhstan, with about 75% of funding secured from external lenders.

The project combines 1 GW of onshore wind capacity with a 600 MWh battery system to improve grid reliability. It is expected to generate 100 TWh of electricity over 25 years—enough to power roughly 1 million people—under a long-term power purchase agreement with the government.

TotalEnergies holds a 60% stake, alongside Samruk Energy and KazMunayGas.

Technical Analysis

TotalEnergies is still trading near the top of its 52-week range, sitting just under the April peak near $93.49, which keeps the bigger-picture uptrend in focus. The stock is trading 0.7% below its 20-day simple moving average (SMA) and 17.7% above its 100-day SMA, a mix that points to short-term cooling but a still-firm intermediate trend.

The moving average convergence divergence (MACD), a trend/momentum measure, is below its signal line and the histogram is negative, which leans toward fading upside momentum after the April run. When MACD sits under its signal, it often reflects buyers losing control of the near-term pace even if the trend is still up.

  • Key Resistance: $93.50 — where recent rallies have stalled near the 52-week high area.
  • Key Support: $85.50 — a level that’s acted like a floor during pullbacks.

Earnings & Analyst Outlook

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

  • EPS Estimate: $1.96 (Up from $1.83 YoY)
  • Revenue Estimate: $46.36 Billion (Down from $52.25 Billion YoY)
  • Valuation: P/E of 15.7x (Suggests fair valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price target of $83.00. Recent analyst moves include:

  • Scotiabank: Sector Perform (Raises Target to $97.00) (April 22)
  • Piper Sandler: Neutral (Raises Target to $92.00) (March 12)
  • JP Morgan: Upgraded to Overweight (March 2)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for TotalEnergies, highlighting its strengths and weaknesses compared to the broader market:

  • Momentum: Bullish (Score: 88.24) — The stock is showing strong trend persistence versus the broader market.
  • Value: Bullish (Score: 88.8) — The setup screens as attractively priced versus many peers on value factors.
  • Growth: Neutral (Score: 51.39) — Growth characteristics look middle-of-the-pack rather than a clear tailwind.

The Verdict: TotalEnergies’ Benzinga Edge signal reveals a momentum-plus-value profile, where trend strength is doing a lot of the heavy lifting. With growth scoring closer to neutral, the next test is whether the stock can hold support near $85.50 if the broader market keeps favoring tech-led risk-on trades.

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

Price Action

TTE Stock Price Activity: TotalEnergies shares were down 0.80% at $89.75 at the time of publication on Friday, according to Benzinga Pro data.

Shares are declining as energy names lag a risk-on tape that’s rotating hard into growth and tech. The Nasdaq is up 1.76% while the S&P 500 has gained 0.76%.

Photo by Vytautas Kielaitis via Shutterstock