TD Cowen analyst Jason Gabelman has maintained their neutral stance on TTE stock, giving a Hold rating today.
Jason Gabelman has given his Hold rating due to a combination of factors including a reduction in the expected earnings per share (EPS) for the first quarter of 2025. The EPS forecast has been lowered from $2.10 to $1.84, which is below the consensus estimate of $1.91. This adjustment reflects anticipated earnings reductions across all segments of TotalEnergies.
Furthermore, while there are no immediate changes expected in capital expenditure or distribution guidance, there is potential for capital expenditure to decrease this year and for share buybacks to be halved next year if oil prices remain at current levels. The stability of TotalEnergies’ financial framework is expected to be a key topic in their upcoming earnings call, with potential adjustments to their financial strategies being considered. These factors contribute to maintaining a Hold rating on TotalEnergies’ stock.
Gabelman covers the Energy sector, focusing on stocks such as Equinor ASA, TotalEnergies, and BP. According to TipRanks, Gabelman has an average return of 4.6% and a 46.43% success rate on recommended stocks.
In another report released today, Scotiabank also maintained a Hold rating on the stock with a $60.00 price target.