SSE plc (LON:SSE) Announces Dividend of GBX 40

SSE plc (LON:SSE) declared a dividend on Wednesday, May 22nd, Upcoming.Co.Uk reports. Shareholders of record on Thursday, July 25th will be paid a dividend of GBX 40 ($0.51) per share on Thursday, September 19th. This represents a yield of 2.22%. The ex-dividend date is Thursday, July 25th. This is an increase from SSE’s previous dividend of $20.00. The official announcement can be seen at this link.

SSE Stock Up 0.2 %

Shares of SSE stock traded up GBX 3 ($0.04) during midday trading on Wednesday, reaching GBX 1,802 ($22.90). 5,550,012 shares of the stock were exchanged, compared to its average volume of 3,524,786. The firm has a market cap of £19.64 billion, a PE ratio of 3,394.34, a price-to-earnings-growth ratio of 3.21 and a beta of 0.57. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 84.31. The company’s 50 day moving average is GBX 1,676.56 and its two-hundred day moving average is GBX 1,717.70. SSE has a 1 year low of GBX 1,485 ($18.87) and a 1 year high of GBX 1,932.50 ($24.56).

Analysts Set New Price Targets

A number of brokerages have recently commented on SSE. Berenberg Bank dropped their target price on shares of SSE from GBX 2,300 ($29.23) to GBX 2,000 ($25.42) and set a “buy” rating on the stock in a report on Friday, March 1st. JPMorgan Chase & Co. boosted their price objective on shares of SSE from GBX 2,050 ($26.05) to GBX 2,075 ($26.37) and gave the stock an “overweight” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,959 ($24.90).

About SSE

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.