TotalEnergies Locks In Massive Nuclear Deal With EDF To Power French Plants

TotalEnergies SE (NYSE:TTE) and the EDF Group on Friday signed a 12-year Nuclear Production Allocation Contract (CAPN), effective January 1, 2028, to secure low-carbon electricity for industrial operations in France. Under the deal, EDF will allocate nuclear power output covering about 60% of TotalEnergies' refining and chemicals sites' electricity needs, or roughly 400 megawatts. The agreement provides TotalEnergies with competitively priced, low-carbon energy while allowing EDF to share production-related risks. EDF will continue to operate its nuclear assets. Technical Analysis TotalEnergies is trading 9.2% above its 20-day SMA and 28.5% above its 100-day SMA, keeping the short-term and intermediate-term uptrend clearly intact. Shares are up 38.92% over the past 12 months and are positioned closer to their 52-week highs than lows, with price now above the prior 52-week high set on 2026-03-19. The RSI is at 76.79, which puts the stock in overbought territory and suggests momentum is strong but increasingly stretched. MACD is also constructive at 3.6345 versus a 3.3079 signal line, keeping the bullish trend signal in place even as the stock runs hot. The combination of overbought RSI (above 70) and bullish MACD suggests mixed momentum, where trend strength remains intact but pullback risk rises if buyers tire. Key Resistance: $92.00 Key Support: $76.50 Earnings & Analyst Outlook Looking further out, the next major catalyst for the stock arrives with the April 29, 2026 (confirmed) earnings report. EPS Estimate: $1.92 (Up from $1.83 YoY) Revenue Estimate: $44.68 Billion (Down from $52.25 Billion YoY) Valuation: P/E of 15.5x (Suggests fair valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $70.72. Recent analyst moves include: Piper Sandler: Neutral (Raises Target to $92.00) (March 12) JP Morgan: Upgraded to Overweight (March 2) Freedom Broker: Downgraded to Sell (Maintains Target to $73.00) (February 13) Top ETF Exposure SPDR DJ Euro STOXX 50 ETF (NYSE:FEZ): 2.86% Weight SPDR S&P Global Natural Resources ETF (NYSE:GNR): 2.77% Weight Invesco FTSE RAFI Developed Markets ex-US ETF (NYSE:PXF): 1.36% Weight Significance: Because TTE carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. TTE Stock Price Activity: TotalEnergies shares were up 2.06% at $91.72 during premarket trading on Monday, according to Benzinga Pro data. Photo via Shutterstock