TotalEnergies
This French integrated giant is another great way to play an energy rally from the European side. TotalEnergies S.E. (NYSE: TTE) operates as an integrated oil and gas company worldwide. Its Exploration & Production segment engages in oil and natural gas exploration and production activities in approximately 50 countries.
The Integrated Gas, Renewables & Power segment engages in the LNG production, shipping, trading and regasification activities; trading of liquefied petroleum gas (LPG), petcoke and sulfur, natural gas and electricity; transportation of natural gas; electricity production from natural gas, wind, solar, hydroelectric and biogas sources; energy storage activities; and development and operation of biomethane production units, as well as provides energy efficiency services.
The Refining & Chemicals segment refines petrochemicals, including olefins and aromatics; and polymer derivatives, such as polyethylene, polypropylene, polystyrene and hydrocarbon resins, as well as biomass conversion and elastomer processing. This segment also engages in trading and shipping crude oil and petroleum products.
The Marketing & Services segment produces and sells lubricants; supplies and markets petroleum products, including bulk fuel, aviation and marine fuel, special fluids, compressed natural gas, LPG and bitumen; and provides fuel payment solutions. It operates approximately 15,500 service stations.
While finding comprehensive final earnings for the quarter proved to be difficult, the company still pays the highest dividend of all of the mega-cap integrated leaders.
TotalEnergies stock comes with a 4.92% dividend. The BofA Securities price target is $85. That compares with a $72.50 consensus target and with Tuesday’s close at $61.78 a share.
Given the shaky geopolitical state of the world, we decided to focus on the mega-cap domestic and foreign sector leaders. Needless to say, if the current administration fails to pivot on the overregulation and energy policy mistakes, the current supply situation likely will worsen. Now is a good time to stay put, add to a position or start accumulating mega-cap energy leaders for 2023.
Originally published at 24/7 Wall St.
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