Pennon Group plc (LON:PNN) had its target price lifted by Morgan Stanley from GBX 900 ($11.66) to GBX 930 ($12.05) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has an equal weight rating on the stock.
PNN has been the subject of a number of other reports. Deutsche Bank AG restated a buy rating and issued a GBX 980 ($12.69) price target on shares of Pennon Group plc in a research note on Friday, June 23rd. Credit Suisse Group decreased their price target on Pennon Group plc from GBX 750 ($9.72) to GBX 710 ($9.20) and set an underperform rating for the company in a research note on Friday, June 30th. Royal Bank of Canada restated an outperform rating and issued a GBX 950 ($12.31) price target on shares of Pennon Group plc in a research note on Thursday, May 4th. Citigroup Inc. restated a neutral rating and issued a GBX 840 ($10.88) price target on shares of Pennon Group plc in a research note on Wednesday, May 3rd. Finally, HSBC Holdings plc restated a buy rating and issued a GBX 940 ($12.18) price target on shares of Pennon Group plc in a research note on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of GBX 891.15 ($11.54).
Shares of Pennon Group plc (PNN) traded down 0.56% during midday trading on Friday, reaching GBX 804.50. The company’s stock had a trading volume of 1,492,152 shares. The firm’s market cap is GBX 3.33 billion. The company has a 50-day moving average price of GBX 895.10 and a 200-day moving average price of GBX 856.54. Pennon Group plc has a 12 month low of GBX 761.00 and a 12 month high of GBX 947.23.
COPYRIGHT VIOLATION WARNING: This article was first posted by WKRB News and is owned by of WKRB News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.wkrb13.com/markets/2286225/pennon-group-plc-lonpnn-given-new-gbx-930-price-target-at-morgan-stanley.html.
The company also recently declared a dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, July 6th will be issued a dividend of GBX 24.87 ($0.32) per share. This is a boost from Pennon Group plc’s previous dividend of $11.09. This represents a yield of 2.7%. The ex-dividend date is Thursday, July 6th.
About Pennon Group plc
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.
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2286225/pennon-group-plc-lonpnn-given-new-gbx-930-price-target-at-morgan-stanley.html
Receive News & Ratings for Pennon Group plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennon Group plc and related companies with MarketBeat.com's FREE daily email newsletter.