TotalEnergies Stock Gains Traction On Finnish Used Oil Reprocessing Acquisition: Details
Portfolio Pulse from Lekha Gupta
TotalEnergies SE (NYSE:TTE) shares are trading higher after the company disclosed the acquisition of Tecoil, a Finnish company specializing in the production of Re-Refined Base Oils (RRBOs). Tecoil operates a facility in Finland and has a circular economy network across Europe. This acquisition aligns with TotalEnergies' strategy to enhance its lubricant offerings and reduce carbon footprint. TTE shares are up 2.47% premarket. Investors can gain exposure to TTE via ETFs like EIPX and KEAT.
July 01, 2024 | 11:51 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Investors can gain exposure to TotalEnergies (TTE) via the First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (ARCA: EIPX).
EIPX holds TotalEnergies (TTE) as part of its portfolio, and the positive news regarding TTE's acquisition of Tecoil could lead to a short-term positive impact on EIPX.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to TotalEnergies (TTE) via the Keating Active ETF (NASDAQ: KEAT).
KEAT holds TotalEnergies (TTE) as part of its portfolio, and the positive news regarding TTE's acquisition of Tecoil could lead to a short-term positive impact on KEAT.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
TotalEnergies SE (NYSE:TTE) shares are trading higher after the company disclosed the acquisition of Tecoil, a Finnish company specializing in the production of Re-Refined Base Oils (RRBOs). This acquisition aligns with TotalEnergies' strategy to enhance its lubricant offerings and reduce carbon footprint.
The acquisition of Tecoil by TotalEnergies is a strategic move to enhance its lubricant offerings and reduce carbon footprint, which is positively received by the market as evidenced by the 2.47% premarket increase in TTE shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100