Pennon Group plc (LON:PNN) Given New GBX 930 Price Target at Morgan Stanley

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.

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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.

Analyst Recommendations for Pennon Group plc (LON:PNN)

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