TotalEnergies SE - TTE STOCK NEWS

TotalEnergies (TTE) has signed an agreement with CEPSA to acquire upstream assets in the United Arab Emirates with an effective date of January 1, 2023. This acquisition includes a 20% interest in the SARB and Umm Lulu offshore concession and a 12.88% indirect interest in the Mubarraz concession. The SARB and Umm Lulu fields are operated by ADNOC, which holds a 60% interest in the concession. This move underscores TotalEnergies' strategy to focus on low-cost, low-emission assets while enhancing its longstanding partnership with ADNOC in the region. All transactions are subject to customary conditions precedent.

TotalEnergies SE (TTE) has reported share repurchases conducted between February 20 and February 24, 2023, as authorized by shareholders on May 25, 2022. A total of 2,192,770 shares were bought at an average price of €58.79, totaling approximately €128.91 million. The shares were acquired across various markets, including XPAR and CEUX. This activity reflects the company's commitment to enhancing shareholder value through strategic buybacks.

TotalEnergies has entered into Corporate Power Purchase Agreements (CPPA) with Sasol and Air Liquide in South Africa to supply 260 MW of renewable electricity over 20 years. This includes a 120 MW solar plant and a 140 MW wind farm, generating approximately 850 GWh per year for Sasol’s Secunda site. These projects, aimed at decarbonizing production, are expected to create jobs and contribute to South Africa's energy transition from coal to renewables. The projects are slated to be operational in 2025, pending regulatory approvals. TotalEnergies aims to increase its renewable capacity to 100 GW by 2030.

TotalEnergies SE has announced the repurchase of 2,148,127 shares between February 13 and February 17, 2023, in accordance with shareholder approval from May 25, 2022. The transactions were executed at a daily weighted average purchase price of €59.671902, totaling approximately €128.2 million. The detailed transactions, including daily volumes and prices, are available on TotalEnergies' investor relations website. This buyback reflects the company's commitment to enhancing shareholder value.

TotalEnergies and Corio Generation have entered a joint venture to develop the Formosa 3 offshore wind project in Taiwan. This project, which was awarded 600 MW of grid capacity for the Haiding 2 windfarm in December 2022, encompasses three proposed windfarms: Haiding 1, 2, and 3, with a total capacity of approximately 2 GW. Corio will maintain a majority share and lead the development. The investment is part of Taiwan’s green energy transition and aims to enhance TotalEnergies' renewable portfolio from 17 GW in 2022 to 35 GW by 2025. The agreement is subject to regulatory approvals.

SunPower Corp. (NASDAQ:SPWR) reported record Q4 results with nearly 24,000 new customers and revenue of $497 million, reflecting a 43% YoY growth. The company achieved a GAAP net income of $8 million and adjusted EBITDA of $36 million. For the full year 2022, SunPower added 83,000 customers, generating $1.7 billion in revenue, a 53% increase YoY, and net income of $56 million. As of January 2023, SunPower boasts a strong financial position with $48 million in net recourse debt, and successfully repaid $425 million in convertible debt. The company continues to secure new supply agreements to meet rising demand.

TotalEnergies SE is initiating its annual capital increase aiming to engage employees and former employees in its growth strategy. This capital increase, approved by the Board on September 22, 2022, will offer up to 18 million shares at a nominal value of €2.50 each, totaling €45 million or 0.69% of the company's capital. The subscription price will be based on the average closing price from the 20 trading sessions prior to the subscription period, with a 20% discount. The subscription period is set from April 28, 2023, to May 15, 2023.

From February 6 to February 10, 2023, TotalEnergies SE (Ticker: TTE) conducted share repurchases totaling 2,720,648 shares at an average price of €57.19 per share, amounting to approximately €155.6 million in transactions. This activity aligns with the authorization granted during the shareholders' meeting on May 25, 2022. The repurchase includes daily volumes ranging from 10,000 to 390,653 shares across multiple transactions in various markets. For detailed transaction data, investors can refer to TotalEnergies' official website.

TotalEnergies SE posted strong financial results for 4Q22, reporting an adjusted net income of $7.6 billion, up 11% year-over-year, and a full-year net income of $20.5 billion, a 28% increase compared to 2021. The strong results were driven by a 5% rise in hydrocarbon production and a 22% increase in LNG sales. The company plans to distribute a dividend of €0.74/share and confirmed a payout policy of 35-40% for 2023, including share buybacks of $2 billion in the first quarter.

Notably, the company anticipates net investments of $16-18 billion for 2023, focusing on low-carbon energies. The return on equity stood at 32% for 2022.