Pennon Group plc Stock Rating Reaffirmed by Citigroup Inc. (PNN)
Pennon Group plc (LON:PNN)‘s stock had its “buy” rating reaffirmed by equities researchers at Citigroup Inc. in a research report issued on Tuesday. They currently have a GBX 780 ($13.27) price objective on the stock. Citigroup Inc.’s target price would indicate a potential upside of 0.84% from the stock’s previous close.
Pennon Group plc (LON:PNN) traded down 0.32% during mid-day trading on Tuesday, hitting GBX 773.50. The stock had a trading volume of 568,875 shares. Pennon Group plc has a 52 week low of GBX 629.338 and a 52 week high of GBX 790.69. The stock’s 50-day moving average is GBX 769.3 and its 200-day moving average is GBX 722.4. The company’s market cap is £2.862 billion.
The company also recently declared a dividend, which is scheduled for Friday, October 3rd. Stockholders of record on Wednesday, August 6th will be given a dividend of GBX 20.92 ($0.36) per share. This represents a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, August 6th.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs reiterated a “neutral” rating on shares of Pennon Group plc in a research note on Tuesday. They now have a GBX 743 ($12.64) price target on the stock. Separately, analysts at HSBC reiterated a “neutral” rating on shares of Pennon Group plc in a research note on Monday. They now have a GBX 810 ($13.78) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Pennon Group plc in a research note on Friday, June 13th. They now have a GBX 830 ($14.13) price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of GBX 768 ($13.07).
Pennon Group Plc is a utility infrastructure company. The Company is engaged in the provision of water and sewerage services, recycling, renewable energy and waste management.
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