HSBC Increases Pennon Group plc (PNN) Price Target to GBX 940
Pennon Group plc (LON:PNN) had its price objective lifted by research analysts at HSBC from GBX 910 ($11.29) to GBX 940 ($11.66) in a report issued on Monday. The firm presently has a “buy” rating on the stock. HSBC’s price target would indicate a potential upside of 13.46% from the stock’s previous close.
PNN has been the subject of several other research reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a GBX 900 ($11.16) price target on shares of Pennon Group plc in a report on Wednesday, September 7th. Credit Suisse Group AG reaffirmed an “underperform” rating and issued a GBX 815 ($10.11) price target on shares of Pennon Group plc in a report on Friday, August 26th. Investec raised Pennon Group plc to a “buy” rating and increased their price target for the company from GBX 840 ($10.42) to GBX 920 ($11.41) in a report on Wednesday, October 19th. Societe Generale increased their price target on Pennon Group plc from GBX 840 ($10.42) to GBX 875 ($10.85) and gave the company a “hold” rating in a report on Friday, September 23rd. Finally, BNP Paribas reaffirmed an “outperform” rating and issued a GBX 950 ($11.79) price target on shares of Pennon Group plc in a report on Tuesday, September 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Pennon Group plc has a consensus rating of “Hold” and a consensus target price of GBX 877.31 ($10.88).
Shares of Pennon Group plc (LON:PNN) opened at 829.50 on Monday. Pennon Group plc has a one year low of GBX 761.00 and a one year high of GBX 958.00. The stock’s market capitalization is GBX 3.42 billion. The firm has a 50 day moving average price of GBX 817.71 and a 200 day moving average price of GBX 861.51.
The company also recently disclosed a dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Thursday, February 2nd will be paid a GBX 11.09 ($0.14) dividend. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a dividend yield of 1.36%.
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In other news, insider H P. BARRETT HAGUE acquired 1,819 shares of the company’s stock in a transaction dated Tuesday, November 29th. The stock was acquired at an average cost of GBX 824 ($10.22) per share, with a total value of £14,988.56 ($18,593.92).
Pennon Group plc Company Profile
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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