TotalEnergies SE · TTE · FY2025 Q4 · Calendar Q1 2026
TotalEnergies reaffirms disciplined growth and 2026 targets
Management’s confident outlook supports a constructive operating trajectory, but returns remain exposed to commodity prices, execution and regulatory risk.
Earnings scorecard
Reported versus consensusMarket reaction
prior-close to event-session closeAsk FN2 about TTE FY2025 Q4
Transcript, numbers and history already loadedFree account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current call added emphasis on Namibia assets, new LNG trains, integrated power and data-center PPAs, while maintaining disciplined 2026 capex and shareholder distributions.
Guidance delta
Maintained. Management reaffirmed 2026 targets, including $15 billion of capex, approximately 5% dividend growth in euros, and a $3 billion–$6 billion buyback range.
Key takeaways
- 2025 performance exceeded guidance, with 4% upstream growth and $28 billion of cash flow.
- Namibia, LNG and integrated power are the main strategic growth platforms highlighted for 2026 and beyond.
- AI-enabled operations and data-center power agreements broaden the company’s efficiency and demand initiatives.
Management priorities
- Advance Venus and Mopane toward planned final investment decisions.
- Commission new LNG capacity and integrate EPH gas-to-power operations.
- Roll out the AI data platform and expand the data-center power purchase agreement pipeline.
Follow TTE with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Buy | Buy | Maintain | Oct 13, 2026 |
| JP Morgan | Neutral | Overweight | Downgrade | Sep 23, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Sep 3, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Apr 22, 2026 |
| Freedom Broker | Sell | Buy | Downgrade | Feb 13, 2026 |
| Jefferies | Buy | Hold | Upgrade | Jan 8, 2026 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | May 12, 2025 |
| Citigroup | Buy | Neutral | Upgrade | Mar 26, 2025 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 20, 2023 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jan 12, 2023 |
| Cowen & Co. | Market Perform | Market Perform | Maintain | Sep 30, 2022 |
| Bernstein | Outperform | Market Perform | Upgrade | Jun 29, 2022 |
| Deutsche Bank | Hold | Buy | Downgrade | Mar 23, 2022 |
| HSBC | Hold | Buy | Downgrade | Mar 21, 2022 |
| UBS | Buy | Neutral | Upgrade | Nov 15, 2021 |
| MKM Partners | Buy | Buy | Maintain | Jun 9, 2021 |
| Barclays | Overweight | Equal Weight | Upgrade | Mar 13, 2018 |
| Raymond James | Strong Buy | Outperform | Upgrade | Feb 13, 2018 |
| Independent Research | Buy | Hold | Upgrade | Dec 1, 2016 |
| Credit Suisse | Neutral | Outperform | Downgrade | Dec 1, 2016 |
| Canaccord Genuity | Hold | Buy | Downgrade | Apr 18, 2016 |
| Nomura | Buy | Neutral | Upgrade | Mar 18, 2016 |
| Goldman Sachs | Buy | Buy | Maintain | Mar 11, 2016 |
| Bank of America | Buy | Hold | Upgrade | Dec 9, 2015 |
| Societe Generale | Buy | Hold | Upgrade | Sep 22, 2015 |
| Scotia Howard Weil | Outperform | Sector Perform | Upgrade | Feb 23, 2015 |
| Oddo Securities | Neutral | Buy | Downgrade | May 2, 2014 |
| Natixis | Neutral | Buy | Downgrade | May 1, 2014 |
| Exane BNP Paribas | Neutral | Outperform | Downgrade | Jan 10, 2014 |
| Santander | Hold | Hold | Maintain | Nov 30, 2012 |
| Paradigm Capital | Buy | Buy | Maintain | Nov 13, 2012 |
| BMO Capital | Outperform | Outperform | Maintain | Nov 13, 2012 |
| AltaCorp Capital | Outperform | Outperform | Maintain | Nov 13, 2012 |
| Tudor Pickering | Accumulate | Buy | Maintain | Aug 24, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $95.33. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Nitin Kumar | $108 | $91.02 | +13.3% | Oct 16, 2026 |
| Morgan Stanley | Analyst unavailable | $90 | $89.25 | -5.6% | Sep 3, 2026 |
| Piper Sandler | John Royall | $93 | $90.22 | -2.4% | Sep 3, 2026 |
| Mizuho Securities | Nitin Kumar | $103 | $81.39 | +8.0% | Jul 20, 2026 |
| Wolfe Research | Doug Leggate | $83 | $67.2 | -12.9% | Jan 21, 2026 |
| Scotiabank | Analyst unavailable | $73 | $65.81 | -23.4% | Jan 16, 2026 |
| Piper Sandler | Ryan Todd | $71 | $62.74 | -25.5% | Jan 8, 2026 |
| Loop Capital Markets | Sergey Pigarev | $73 | $61.57 | -23.4% | Nov 3, 2025 |
| Piper Sandler | Analyst unavailable | $69 | $61.09 | -27.6% | Oct 20, 2025 |
| Scotiabank | Paul Cheng | $67 | $58.96 | -29.7% | Oct 9, 2025 |
| Scotiabank | Paul Cheng | $65 | $63.01 | -31.8% | Jul 11, 2025 |
| Wolfe Research | Doug Leggate | $82 | $55.68 | -14.0% | Jan 3, 2025 |
| Piper Sandler | Ryan Todd | $77 | $67.98 | -19.2% | Oct 3, 2024 |
| CFRA | Jeff Lye | $80 | $72.9 | -16.1% | Apr 4, 2024 |
| Piper Sandler | Ryan Todd | $64 | $68.4 | -32.9% | Dec 22, 2023 |
Track every rating change on TTE the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationTotalEnergies SE, headquartered in Courbevoie, France, traces its origins back to its incorporation in 1924. Known as TOTAL SE until its rebranding in June 2021, it stands as a global, integrated energy powerhouse. Its extensive worldwide operations are structured across four key business segments: The Integrated Gas, Renewables & Power division encompasses the entire liquefied natural gas (LNG) value chain, from production and shipping to trading and regasification. It also actively trades various energy commodities including liquefied petroleum gas (LPG), natural gas, and electricity, alongside petcoke and sulfur. This segment is deeply involved in natural gas transportation, electricity generation from a diverse mix of sources—ranging from natural gas to wind, solar, hydroelectric, and biogas—as well as energy storage solutions and the development of biomethane facilities. Furthermore, it offers energy efficiency services.…
Historical context
All TTE earningsEnergy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CVX Chevron Corporation | FY2026 Q3 · Calendar Q4 2026 | +8.4% | +1.8% | Chevron posts strong Q3 as production, cash flow and AI value rise |
| XOM Exxonmobil Holdings Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.7% | +2.2% | ExxonMobil Highlights Refining, LNG and Cash Returns in Q3 |
| IMO Imperial Oil Limited | FY2026 Q3 · Calendar Q4 2026 | +6.4% | +5.5% | Imperial Oil: downstream strength and low-carbon growth lead Q3 |
| CCJ Cameco Corporation | FY2026 Q3 · Calendar Q4 2026 | -101.4% | -7.9% | Cameco keeps nuclear-growth thesis intact as Key Lake outage weighs |
| BP BP p.l.c. | FY2026 Q3 · Calendar Q4 2026 | +22.6% | +0.1% | BP Q3: Strong profit, lower debt, safety risks persist |
| FSLR First Solar, Inc. | FY2026 Q3 · Calendar Q4 2026 | +13.5% | -1.4% | First Solar: Margin gains offset lower volume outlook |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the TTE recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-01T10:20:40.708190+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-01T10:20:40.705398+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-01. For educational purposes only; not investment advice.