Pennon Group (LON:PNN) Shares Cross Above Two Hundred Day Moving Average of $0.00

Pennon Group plc (LON:PNN)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $707.40. Pennon Group shares last traded at $707.40, with a volume of 676,791 shares changing hands.

A number of research firms recently issued reports on PNN. Macquarie began coverage on Pennon Group in a research report on Monday, June 17th. They set an “outperform” rating and a GBX 870 ($11.37) price objective for the company. HSBC lifted their target price on Pennon Group from GBX 840 ($10.98) to GBX 850 ($11.11) and gave the company a “buy” rating in a research note on Monday, May 20th. Royal Bank of Canada reaffirmed a “sector performer” rating on shares of Pennon Group in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut their target price on Pennon Group from GBX 780 ($10.19) to GBX 760 ($9.93) and set a “neutral” rating on the stock in a research note on Monday, July 8th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Pennon Group in a research note on Wednesday, June 19th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of GBX 810.78 ($10.59).

The business’s 50 day simple moving average is GBX 737.32. The company has a current ratio of 2.14, a quick ratio of 1.33 and a debt-to-equity ratio of 218.48. The firm has a market capitalization of $2.98 billion and a PE ratio of 13.90.

The firm also recently announced a dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, July 25th will be paid a dividend of GBX 28.22 ($0.37) per share. The ex-dividend date is Thursday, July 25th. This represents a yield of 3.92%. This is an increase from Pennon Group’s previous dividend of $12.84. Pennon Group’s payout ratio is presently 0.81%.

About Pennon Group (LON:PNN)

Pennon Group Plc engages in the environmental infrastructure businesses in the United Kingdom, rest of European Union, China, and internationally. The company's Water segment comprises the regulated water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; and water services in the areas of Dorset, Hampshire, and Wiltshire.

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