New Zealand markets closed
  • NZX 50

    10,753.16
    -115.54 (-1.06%)
     
  • NZD/USD

    0.6210
    -0.0035 (-0.55%)
     
  • NZD/EUR

    0.5948
    -0.0005 (-0.08%)
     
  • ALL ORDS

    6,720.40
    -26.10 (-0.39%)
     
  • ASX 200

    6,539.90
    -28.20 (-0.43%)
     
  • OIL

    108.46
    +2.70 (+2.55%)
     
  • GOLD

    1,812.90
    +5.60 (+0.31%)
     
  • NASDAQ

    11,585.68
    +81.96 (+0.71%)
     
  • FTSE

    7,168.65
    -0.63 (-0.01%)
     
  • Dow Jones

    31,097.26
    +321.83 (+1.05%)
     
  • DAX

    12,813.03
    +29.26 (+0.23%)
     
  • Hang Seng

    21,859.79
    -137.10 (-0.62%)
     
  • NIKKEI 225

    25,935.62
    -457.42 (-1.73%)
     
  • NZD/JPY

    83.9370
    -0.7780 (-0.92%)
     

Shell UK (SHEL) to Erect 100,000 EV Charging Points by 2030

·3-min read

The British energy major Shell plc SHEL recently declared its plans to install about 100,000 public electric vehicle (EV) charging points across the United Kingdom by the end of this decade. Roughly 11,000 of these points will be fast chargers in supermarkets, forecourts and charging hubs. This development will ensure that 90% of drivers in the United Kingdom will be able to access a Shell rapid-charging point within a 10-minute drive.

The remaining public chargers will be on-street charging points assimilated into street infrastructure like lampposts. These will be slower-speed outlets that will charge vehicles over a longer period of time.

Along with developing a vast network of public EV charging infrastructure, SHEL’s installation of such chargers at private locations, such as workplaces and homes, is also expected to grow rapidly. By the end of 2030, the company anticipates having some 500,000 private chargers erected.

David Bunch, Country Chair for Shell UK, mentioned that public charging should be made available to everyone and that this expansion in developing the same is part of Shell’s planned investment of up to £25 billion in the U.K. energy infrastructure over the next decade and that 75% of it will be in low and zero-carbon projects. “This is a huge investment in the UK energy system of the future,” he concluded.

Shell intends to operate 2.5 million EV charging points globally by 2030. This is part of the larger objective of being a net-zero emissions energy business by 2050.

Headquartered in London, Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing. SHEL operates as an energy and petrochemical company. Shell plc was formerly known as Royal Dutch Shell.

Shell currently has a Zacks Rank #3 (Hold). Investors interested in the energy space might look at some better-ranked stocks — Murphy USA MUSA, Vista Oil & Gas VIST and PBF Energy PBF — each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Murphy USA is valued at around $6 billion. The Zacks Consensus Estimate for Murphy USA’s 2022 earnings per share has been revised upward by about 40.4% over the past 60 days from $11.42 to $16.04.

Murphy USA beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 49.1%. MUSA stock has increased 73% in a year.

The Zacks Consensus Estimate for Vista’s 2022 earnings is projected at $1.67 per share, up about 209.3% from the projected year-ago earnings of 54 cents.

Vista’s stock has rallied 202.9% in a year. The Zacks Consensus Estimate for VIST’s 2022 earnings has been revised about 7.7% upward over the past 60 days from $1.55 per share to $1.67.

PBF Energy’s stock has increased 92.1% in a year. The Zacks Consensus Estimate for PBF Energy’s 2022 earnings has been revised upward by about 150% over the past 60 days from $2.26 to $5.65 per share.

The Zacks Consensus Estimate for PBF’s 2022 earnings is projected at $5.65 per share, up about 326% from the projected year-ago loss of $2.50.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Murphy USA Inc. (MUSA) : Free Stock Analysis Report
 
PBF Energy Inc. (PBF) : Free Stock Analysis Report
 
Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR (VIST) : Free Stock Analysis Report
 
Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting