TotalEnergies SE

TTE: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€77.00	Zpgwm	Mfhyryv

TotalEnergie Earnings: Canada Sale Ensures Payout at Upper End of Target Range

Allen Good

Apr 28, 2023

No-moat TotalEnergies reported first-quarter results that were lower from the same quarter a year before on the back of lower oil and gas prices, but largely met market expectations. Adjusted earnings fell to $6.5 billion from $9.0 billion in first-quarter 2022. We are not changing our $67/EUR 62 fair value estimate.

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