Pennon Group plc (PNN) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Pennon Group plc (LON:PNN)‘s stock had its “neutral” rating restated by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Monday. They currently have a GBX 900 ($11.16) price target on the stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 8.63% from the stock’s previous close.
Several other analysts have also recently issued reports on PNN. Deutsche Bank AG decreased their price objective on Pennon Group plc from GBX 1,000 ($12.41) to GBX 900 ($11.16) and set a “buy” rating on the stock in a report on Tuesday, September 13th. HSBC reaffirmed a “buy” rating and set a GBX 990 ($12.28) price objective on shares of Pennon Group plc in a report on Tuesday, September 13th. BNP Paribas reaffirmed an “outperform” rating and set a GBX 950 ($11.79) price objective on shares of Pennon Group plc in a report on Tuesday, September 13th. Credit Suisse Group AG raised Pennon Group plc to a “neutral” rating and upped their price objective for the stock from GBX 790 ($9.80) to GBX 800 ($9.92) in a report on Wednesday, November 9th. Finally, Societe Generale upped their price objective on Pennon Group plc from GBX 840 ($10.42) to GBX 875 ($10.85) and gave the stock a “hold” rating in a report on Friday, September 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of GBX 877.31 ($10.88).
Pennon Group plc (LON:PNN) opened at 829.50 on Monday. The stock’s market cap is GBX 3.42 billion. The firm’s 50-day moving average price is GBX 817.71 and its 200 day moving average price is GBX 861.51. Pennon Group plc has a 12 month low of GBX 761.00 and a 12 month high of GBX 958.00.
The firm also recently disclosed a dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Thursday, February 2nd will be given a GBX 11.09 ($0.14) dividend. This represents a yield of 1.36%. The ex-dividend date is Thursday, February 2nd.
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In other Pennon Group plc news, insider H P. BARRETT HAGUE acquired 1,819 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were bought at an average price of GBX 824 ($10.22) per share, with a total value of £14,988.56 ($18,593.92).
About Pennon Group plc
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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