Pennon Group - PNN Share Forecast, Price & News

Pennon Group Plc provides clean water and wastewater services in the United Kingdom. It provides water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; water-only services in the areas of Dorset, Hampshire, and Wiltshire; and water and wastewater retail services to non-household customers in Great Britain. The company also offers regulated water to approximately 1.2 million customers in the Bristol region. It serves approximately 50 million household and non-household customers. The company was incorporated in 1989 and is based in Exeter, the United Kingdom.

Pennon Group Trading Down 0.3 %

Shares of PNN traded down GBX 3 ($0.04) during trading hours on Friday, hitting GBX 1,022 ($12.35). 484,428 shares of the stock were exchanged, compared to its average volume of 947,382. Pennon Group has a fifty-two week low of GBX 932.81 ($11.27) and a fifty-two week high of GBX 1,335 ($16.13). The company has a debt-to-equity ratio of 251.21, a current ratio of 1.94 and a quick ratio of 1.50. The business has a 50-day moving average of GBX 1,005.39 and a 200-day moving average of GBX 1,035.14. The firm has a market capitalization of £2.69 billion and a P/E ratio of 20,440.00.

Pennon Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, September 5th. Stockholders of record on Thursday, July 21st will be given a dividend of GBX 26.83 ($0.32) per share. The ex-dividend date is Thursday, July 21st. This is a boost from Pennon Group's previous dividend of $11.70. This represents a dividend yield of 2.61%. Pennon Group's dividend payout ratio is 683.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup reissued a "buy" rating and issued a GBX 1,160 ($14.02) price objective on shares of Pennon Group in a research note on Wednesday, June 29th. Barclays reaffirmed an "overweight" rating and set a GBX 1,300 ($15.71) price target on shares of Pennon Group in a research note on Tuesday, May 31st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a GBX 1,050 ($12.69) price target on shares of Pennon Group in a research note on Tuesday, May 3rd. JPMorgan Chase & Co. dropped their price target on shares of Pennon Group from GBX 1,200 ($14.50) to GBX 1,070 ($12.93) and set a "neutral" rating for the company in a research note on Tuesday, June 28th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Pennon Group in a research note on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of GBX 1,134.29 ($13.71).

Insider Transactions at Pennon Group

In other news, insider Paul Boote sold 2,906 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of GBX 980 ($11.84), for a total transaction of £28,478.80 ($34,411.31).