SSE plc (LON:SSE – Get Rating) hit a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as GBX 1,919 ($23.87) and last traded at GBX 1,897 ($23.59), with a volume of 355938 shares changing hands. The stock had previously closed at GBX 1,869.50 ($23.25).
The newly announced dividend which will be paid on Thursday, September 21st. Stockholders of record on Thursday, July 27th will be issued a GBX 67.70 ($0.84) dividend. This represents a dividend yield of 3.62%. This is a positive change from SSE’s previous dividend of $29.00. The ex-dividend date of this dividend is Thursday, July 27th. SSE’s dividend payout ratio (DPR) is presently 9,175.26%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,050 ($25.50) price objective on shares of SSE in a report on Thursday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 2,100 ($26.12) target price on shares of SSE in a research report on Monday, April 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of SSE in a research note on Wednesday, March 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,949.88 ($24.25).
SSE Price Performance
Insider Buying and Selling at SSE
In other SSE news, insider John Bason acquired 2,117 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were bought at an average cost of GBX 1,889 ($23.50) per share, for a total transaction of £39,990.13 ($49,738.97). In other news, insider John Bason purchased 2,117 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were acquired at an average cost of GBX 1,889 ($23.50) per share, for a total transaction of £39,990.13 ($49,738.97). Also, insider Martin Pibworth purchased 48 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were purchased at an average price of GBX 1,757 ($21.85) per share, for a total transaction of £843.36 ($1,048.96). 0.13% of the stock is currently owned by company insiders.
SSE plc engages in the generation, transmission, distribution, and supply of electricity. It generates electricity from water, gas, coal, oil, and multi fuel. The company distributes electricity to approximately 3.8 million homes and businesses across the north of the central belt of Scotland and central southern England; and owns, operates, and develops high voltage electricity transmission system in the north of Scotland and remote islands.
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