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 LON:PNN opened at GBX 1,022 ($12.35) on Friday. The firm has a market cap of £2.69 billion and a PE ratio of 20,440.00. The company has a quick ratio of 1.50, a current ratio of 1.94 and a debt-to-equity ratio of 251.21. Pennon Group has a twelve month low of GBX 932.81 ($11.27) and a twelve month high of GBX 1,335 ($16.13). The business has a fifty day simple moving average of GBX 1,005.39 and a two-hundred day simple moving average of GBX 1,035.46.

Pennon Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNN. Citigroup restated a "buy" rating and set a GBX 1,160 ($14.02) price objective on shares of Pennon Group in a report on Wednesday, June 29th. Royal Bank of Canada restated a "sector perform" rating and set a GBX 1,050 ($12.69) price objective on shares of Pennon Group in a report on Tuesday, May 3rd. Morgan Stanley restated an "overweight" rating on shares of Pennon Group in a report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 1,120 ($13.53) price objective on shares of Pennon Group in a report on Wednesday, June 1st. Finally, JPMorgan Chase & Co. decreased their target price on 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 report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Pennon Group presently has a consensus 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 business's stock in a transaction on Thursday, July 28th. The stock was sold at an average price of GBX 980 ($11.84), for a total value of £28,478.80 ($34,411.31).