M&G Plc Boosts Stake in Diversified Energy Company PLC (NYSE:DEC)

M&G Plc increased its stake in Diversified Energy Company PLC (NYSE:DEC) by 5.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,803,398 shares of the company’s stock after acquiring an additional 87,775 shares during the period. M&G Plc owned about 3.74% of Diversified Energy worth $20,523,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Jupiter Asset Management Ltd. boosted its holdings in shares of Diversified Energy by 77.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock worth $34,973,000 after purchasing an additional 1,150,794 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Diversified Energy in the second quarter worth approximately $820,000. Bank of New York Mellon Corp bought a new position in Diversified Energy during the second quarter valued at approximately $1,983,000. Rhumbline Advisers purchased a new position in shares of Diversified Energy during the second quarter worth approximately $927,000. Finally, Susquehanna International Securities Ltd. bought a new stake in shares of Diversified Energy in the 1st quarter worth approximately $131,000. Institutional investors own 26.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DEC shares. Truist Financial decreased their target price on shares of Diversified Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. KeyCorp began coverage on Diversified Energy in a research note on Wednesday, August 28th. They set an “overweight” rating and a $18.00 price objective on the stock.

Diversified Energy Trading Down 1.4 %

Shares of DEC stock opened at $13.13 on Friday. Diversified Energy Company PLC has a fifty-two week low of $10.54 and a fifty-two week high of $18.69. The stock has a 50 day moving average price of $11.68 and a two-hundred day moving average price of $13.37.

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 29th. This represents a $1.16 annualized dividend and a yield of 8.83%.

Diversified Energy Company Profile

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.