Pennon Group (LON:PNN) Price Target Cut to GBX 710

Pennon Group (LON:PNN) had its price target decreased by JPMorgan Chase & Co. from GBX 740 ($9.30) to GBX 710 ($8.92) in a research note published on Friday morning, Marketbeat reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Separately, Jefferies Financial Group reiterated a buy rating and set a GBX 830 ($10.43) price objective on shares of Pennon Group in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of GBX 852 ($10.70).

Pennon Group Stock Up 1.4 %

Pennon Group stock opened at GBX 698.50 ($8.78) on Friday. The company has a market capitalization of £2.00 billion, a PE ratio of -11,641.67, a PEG ratio of 8.20 and a beta of 0.29. Pennon Group has a 12-month low of GBX 532.83 ($6.69) and a 12-month high of GBX 876.50 ($11.01). The firm’s fifty day moving average is GBX 662.85 and its 200 day moving average is GBX 699.33. The company has a quick ratio of 1.54, a current ratio of 1.27 and a debt-to-equity ratio of 340.01.

Pennon Group Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, January 25th were paid a GBX 14.04 ($0.18) dividend. This represents a dividend yield of 1.88%. The ex-dividend date was Thursday, January 25th. Pennon Group’s dividend payout ratio (DPR) is -73,333.33%.

About Pennon Group

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.