New England Asset Management Inc. Boosts Stake in Shell plc (NYSE:SHEL)

New England Asset Management Inc. raised its holdings in Shell plc (NYSE:SHEL) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,540 shares of the energy company’s stock after acquiring an additional 950 shares during the period. New England Asset Management Inc.’s holdings in Shell were worth $6,499,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SHEL. Mawer Investment Management Ltd. increased its holdings in shares of Shell by 8.7% in the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock valued at $348,405,000 after purchasing an additional 422,329 shares during the last quarter. Equity Investment Corp increased its stake in shares of Shell by 5.2% in the 3rd quarter. Equity Investment Corp now owns 1,012,644 shares of the energy company’s stock worth $66,784,000 after acquiring an additional 50,290 shares during the last quarter. TrinityPoint Wealth LLC raised its holdings in shares of Shell by 3.2% during the 3rd quarter. TrinityPoint Wealth LLC now owns 11,361 shares of the energy company’s stock worth $749,000 after acquiring an additional 353 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Shell by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 714,990 shares of the energy company’s stock valued at $47,154,000 after purchasing an additional 3,136 shares during the period. Finally, Adero Partners LLC acquired a new stake in Shell during the third quarter worth about $202,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price target on Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Scotiabank dropped their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $82.00.

Shell Stock Performance

NYSE SHEL opened at $66.33 on Tuesday. The company has a market cap of $205.31 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.96 and a beta of 0.56. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The stock has a 50-day moving average of $67.33 and a two-hundred day moving average of $70.13.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.15%. Shell’s dividend payout ratio (DPR) is presently 56.58%.

About Shell

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market.