SSE (LON:SSE) Shares Break Above 200 Day Moving Average - Here's Why

Key Points

• SSE shares broke above their 200-day moving average, reaching GBX 2,586 before last trading at GBX 2,551, up 0.4% with more than 1.9 million shares traded.
• Analysts remain broadly positive: five rate SSE a Buy, one Hold, and one Sell, producing a consensus “Moderate Buy” rating and an average price target of GBX 2,639.43.
• Company insiders purchased 125 shares worth approximately £3,006 over the past 90 days, while SSE’s market capitalization stands at about £30.99 billion.

Shares of SSE plc (LON:SSE - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 2,456.32 and traded as high as GBX 2,586. SSE shares last traded at GBX 2,551, with a volume of 1,910,621 shares changing hands.

Wall Street Analyst Weigh In

SSE has been the topic of several research analyst reports. Berenberg Bank restated a "buy" rating and set a GBX 2,980 price objective on shares of SSE in a research note on Tuesday, October 6th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 3,060 target price on shares of SSE in a research note on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 2,650 target price on shares of SSE in a research note on Thursday, September 3rd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of GBX 2,639.43.

SSE Trading Up 0.4%

The company has a quick ratio of 0.50, a current ratio of 1.20 and a debt-to-equity ratio of 103.50. The firm's 50 day moving average is GBX 2,431.66 and its two-hundred day moving average is GBX 2,456.32. The stock has a market cap of £30.99 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 3.06 and a beta of 0.56.

Insider Activity at SSE

In related news, insider Barry O'Regan acquired 9 shares of SSE stock in a transaction that occurred on Thursday, October 8th. The stock was acquired at an average price of GBX 2,962 per share, for a total transaction of £266.58. Also, insider Martin Pibworth acquired 112 shares of SSE stock in a transaction that occurred on Thursday, September 17th. The shares were bought at an average price of GBX 2,446 per share, with a total value of £2,739.52. Insiders have bought 125 shares of company stock valued at $310,226 over the last ninety days. Corporate insiders own 0.15% of the company's stock.

About SSE

SSE is a leading generator of renewables and flexible energy in the GB and Ireland markets, and one of the world's fastest-growing electricity networks companies. This includes onshore and offshore wind farms, hydro, electricity transmission and distribution networks, power stations, carbon capture and hydrogen, solar and batteries, as well as providing energy products and services for businesses and other customers. SSE's more than 14,000 employees are dedicated to delivering cleaner, more secure energy and ensuring a just transition to a net zero future.

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