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HOUSTON - TotalEnergies (Market Cap: $137.45B), a prominent player in the Oil, Gas & Consumable Fuels industry with a "GOOD" financial health rating according to InvestingPro, has joined PJM Interconnection, North America’s largest wholesale electricity market, according to a company press release issued Wednesday.
The membership enables the company’s U.S. trading arm to engage in both physical and financial product transactions across PJM’s grid, which serves 65 million end-users throughout the northeastern and mid-Atlantic United States.
PJM operates across 13 states, offering real-time and day-ahead energy markets. Through this membership, TotalEnergies gains access to PJM’s market tools and data, allowing its Houston-based power trading hub to serve customers and optimize its energy portfolio.
TotalEnergies has invested approximately $11 billion in the United States over the past three years, focusing on oil, liquefied natural gas (LNG), and low-carbon electricity development. The company reports being the leading exporter of U.S. LNG with over 10 million tons of output in 2024.
The company also maintains a presence in renewable energy in the U.S., with 10 GW of onshore utility-scale solar, wind and battery storage installations either completed or under construction.
In March 2025, S&P Global Ratings assigned an ’A+’ issuer credit rating to TotalEnergies Holdings USA, with a stable outlook.
TotalEnergies operates in approximately 120 countries globally with more than 100,000 employees, according to the company’s statement. With annual revenue of $191.63B and strong operational metrics, the company’s detailed financial analysis is available in the comprehensive Pro Research Report on InvestingPro.
In other recent news, TotalEnergies has expanded its renewable energy portfolio in the Caribbean by acquiring a 50% stake in AES Dominicana Renewables Energy’s solar, wind, and battery storage systems in the Dominican Republic. This acquisition complements an earlier purchase in Puerto Rico, bringing the company’s renewable capacity in the region to over 1.5 GW. Additionally, TotalEnergies has completed the sale of a 50% stake in its Portuguese renewable energy portfolio to a consortium of Japanese investors for €178.5 million, while retaining operational control. In Germany, TotalEnergies was awarded a 1 GW offshore wind concession in the North Sea, which will be developed in conjunction with existing projects in the area.
Furthermore, offshore workers of TotalEnergies have accepted a new pay deal, which includes a 2.25% increase in basic pay and a 5% increase in offshore allowance. The agreement was reached through negotiations with the UK’s Unite union. In terms of analyst coverage, Bernstein SocGen upgraded TotalEnergies’ stock rating from market perform to outperform, citing potential upside and the company’s strong return on capital. The firm also highlighted TotalEnergies’ low production costs and its favorable position in the energy market. These developments underscore TotalEnergies’ strategic moves in renewable energy and its ongoing operational adjustments.
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