Pennon Group plc (PNN) Earns “Buy” Rating from Deutsche Bank AG
Pennon Group plc (LON:PNN)‘s stock had its “buy” rating reiterated by stock analysts at Deutsche Bank AG in a report released on Friday. They currently have a GBX 920 ($11.97) price objective on the stock. Deutsche Bank AG’s price objective would suggest a potential downside of 1.60% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. Credit Suisse Group AG restated an “underperform” rating and set a GBX 750 ($9.76) target price on shares of Pennon Group plc in a research report on Monday, February 6th. HSBC Holdings plc restated a “buy” rating and set a GBX 940 ($12.23) target price on shares of Pennon Group plc in a research report on Thursday, May 4th. Citigroup Inc restated a “neutral” rating and set a GBX 840 ($10.93) target price on shares of Pennon Group plc in a research report on Wednesday, May 3rd. Beaufort Securities restated a “buy” rating on shares of Pennon Group plc in a research report on Friday, February 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a GBX 950 ($12.36) target price on shares of Pennon Group plc in a research report on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Pennon Group plc presently has a consensus rating of “Hold” and a consensus price target of GBX 879.58 ($11.44).
Pennon Group plc (LON:PNN) traded down 0.95% on Friday, hitting GBX 935.00. 1,644,541 shares of the company traded hands. The stock’s 50-day moving average is GBX 879.97 and its 200 day moving average is GBX 839.55. Pennon Group plc has a 12 month low of GBX 761.00 and a 12 month high of GBX 958.00. The stock’s market cap is GBX 3.86 billion.
The company also recently declared a dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, July 6th will be issued a dividend of GBX 24.87 ($0.32) per share. The ex-dividend date of this dividend is Thursday, July 6th. This is an increase from Pennon Group plc’s previous dividend of $11.09. This represents a dividend yield of 2.7%.
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About Pennon Group plc
Pennon Group Plc is an environmental infrastructure company. The Company operates through subsidiaries, which include South West Water Limited, Bournemouth Water Limited and Viridor Limited. The Company’s segments include Water and Waste management. Its water business comprises the regulated water and wastewater services undertaken by South West Water Limited and the regulated water services undertaken by Bournemouth Water Limited.
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