TotalEnergies Shares Dip - Reportedly Explores Sale Of 50% Stake In Whopping $2.5B Renewable Portfolio
Portfolio Pulse from Nabaparna Bhattacharya
TotalEnergies SE (NYSE:TTE) is reportedly exploring the sale of a 50% stake in its renewable projects portfolio valued at approximately $2.5 billion, spanning the U.S., Spain, Portugal, France, and Greece. This follows a recent acquisition of a 50% stake in SapuraOMV Upstream Sdn for $903 million and winning a 20-year contract to supply 1.34 GW of renewable electricity to New Jersey. TTE shares dipped by 1.23% to $64.65.
February 02, 2024 | 4:51 pm
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NEUTRAL IMPACT
TotalEnergies SE is considering selling a 50% stake in its renewable energy portfolio, valued at $2.5 billion, and recently acquired a stake in SapuraOMV Upstream Sdn for $903 million.
The news of exploring a sale of a significant stake in its renewable portfolio could signal strategic realignment or capital raising efforts by TotalEnergies. However, the impact on the stock price is neutral short-term as the sale could bring in fresh capital but also indicates a divestment from a growing sector. The recent acquisition and contract win show active portfolio management, which could balance out investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100