TotalEnergies ships first LNG cargo from Mexico terminal
TotalEnergies SE shipped its first LNG cargo from the ECA LNG export terminal in Mexico, securing a 16.6% stake and a 20-year offtake agreement for 1.7 million tonnes annually. The company also sold its European distributed solar assets to focus on utility-scale projects. Analysts expect earnings of $2.75 per share on revenue of $51.90 billion for the upcoming report.
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TotalEnergies SE shipped the first LNG cargo from the ECA LNG export terminal in Baja California, Mexico, marking a key milestone as the facility nears commercial operations. The company owns a 16.6% stake in the project and will offtake 1.7 million tonnes of LNG annually for 20 years once operations begin. This development strengthens the company's position in the global energy market by securing long-term supply capacity.
Separately, TotalEnergies completed the sale of its distributed solar assets in Europe. The company exited this business to focus on larger utility-scale solar and wind projects without slowing its renewable energy expansion. This strategic reallocation of resources aims to optimize its portfolio for higher efficiency and growth in the renewable sector.
Financial and Market Metrics
TotalEnergies is set to report earnings on July 23, 2026. Analysts estimate an EPS of $2.75, up from $1.57 year-over-year, and revenue of $51.90 billion, up from $49.63 billion. The stock currently trades at a P/E of 11.7x, indicating a value opportunity relative to peers.
| Metric | Value |
|---|---|
| EPS Estimate | $2.75 |
| Revenue Estimate | $51.90 Billion |
| P/E Ratio | 11.7x |
| 52-Week High | $94.17 |
| 52-Week Low | $57.39 |
Technical Analysis and Analyst Ratings
In premarket trading, TTE was down 0.47% at $78.50. The stock is trading below its short- and medium-term trend gauges, 2.7% below the 20-day SMA ($80.91) and 9.2% below the 50-day SMA ($86.71). However, the longer-term backdrop remains constructive with the stock 4.4% above the 200-day SMA ($75.34). Key resistance is identified at $93.50, while support stands at $63.50.
The stock carries a Hold rating with an average price target of $83.00. Recent analyst actions include CICC initiating with an Outperform rating, Scotiabank raising its target to $97.00, and Piper Sandler raising its target to $92.00.
ETF Exposure
TotalEnergies holds significant weight in several major ETFs, including the SPDR DJ Euro STOXX 50 ETF (FEZ) at 2.86%, the SPDR S&P Global Natural Resources ETF (GNR) at 2.77%, and the Invesco FTSE RAFI Developed Markets ex-US ETF (PXF) at 1.36%. Substantial inflows or outflows in these funds may impact the stock's price due to automatic rebalancing.
How will the commencement of commercial operations at the ECA LNG terminal impact TotalEnergies' free cash flow generation over the next 12 months?
What specific utility-scale projects will the capital from the European distributed solar asset sales be redirected toward?
Can the company maintain its projected EPS growth trajectory if global LNG prices soften during the upcoming fiscal year?
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