Pennon Group plc (LON:PNN) Given Average Rating of “Hold” by Brokerages
Shares of Pennon Group plc (LON:PNN) have received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is GBX 891.92 ($11.77).
Several research firms recently commented on PNN. Citigroup Inc. reaffirmed a “neutral” rating and issued a GBX 840 ($11.08) price objective on shares of Pennon Group plc in a research report on Wednesday, May 3rd. Deutsche Bank AG boosted their price objective on shares of Pennon Group plc from GBX 900 ($11.87) to GBX 920 ($12.14) and gave the company a “buy” rating in a research report on Tuesday, May 16th. Barclays PLC boosted their price objective on shares of Pennon Group plc from GBX 770 ($10.16) to GBX 810 ($10.68) and gave the company an “underweight” rating in a research report on Monday, June 12th. HSBC Holdings plc reaffirmed a “buy” rating and issued a GBX 960 ($12.66) price objective on shares of Pennon Group plc in a research report on Friday, July 21st. Finally, Morgan Stanley boosted their price objective on shares of Pennon Group plc from GBX 900 ($11.87) to GBX 930 ($12.27) and gave the company an “equal weight” rating in a research report on Friday, July 7th.
Shares of Pennon Group plc (PNN) opened at 806.50 on Friday. Pennon Group plc has a 12-month low of GBX 761.00 and a 12-month high of GBX 947.23. The stock’s market cap is GBX 3.34 billion. The stock has a 50 day moving average price of GBX 835.32 and a 200-day moving average price of GBX 855.94.
The company also recently announced a dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, July 6th will be issued a GBX 24.87 ($0.33) dividend. This represents a dividend yield of 2.7%. This is a boost from Pennon Group plc’s previous dividend of $11.09. The ex-dividend date is Thursday, July 6th.
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Pennon Group plc Company Profile
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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