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

Key Points

• SSE plc shares crossed above the 200-day moving average of GBX 1,719.02, trading as high as GBX 1,731.50.
• JPMorgan Chase & Co. raised their price target for SSE shares from GBX 2,300 to GBX 2,425, giving the stock an "overweight" rating.
• SSE currently has a market capitalization of £18.80 billion and a P/E ratio of 1,581.41.

Shares of SSE plc (LON:SSE - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,719.02 ($22.94) and traded as high as GBX 1,731.50 ($23.11). SSE shares last traded at GBX 1,709.50 ($22.81), with a volume of 3,643,535 shares.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price target on shares of SSE from GBX 2,300 to GBX 2,425 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of GBX 2,425.

SSE Stock Down 1.0%

The stock's fifty day moving average is GBX 1,762.16 and its 200 day moving average is GBX 1,719.02. The company has a current ratio of 1.10, a quick ratio of 0.50 and a debt-to-equity ratio of 82.62. The company has a market capitalization of £18.80 billion, a P/E ratio of 1,581.41, a price-to-earnings-growth ratio of 3.06 and a beta of 0.56.

About SSE

SSE is an integrated energy group focused on regulated electricity networks and renewable energy with flexible generation. Our strategy is to create value for shareholders and society in a sustainable way by developing, building, operating and investing in the electricity infrastructure and businesses needed in the transition to net zero.

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