Pennon Group (LON:PNN) Trading 9.7% Higher

Shares of Pennon Group Plc (LON:PNN) traded up 9.7% during mid-day trading on Thursday . The stock traded as high as GBX 691 ($8.85) and last traded at GBX 679 ($8.70). 1,675,149 shares traded hands during trading, an increase of 84% from the average session volume of 912,453 shares. The stock had previously closed at GBX 619 ($7.93).

Analysts Set New Price Targets

Several research firms have recently commented on PNN. Morgan Stanley reiterated an “equal weight” rating on shares of Pennon Group in a research note on Tuesday, May 14th. Barclays cut their target price on shares of Pennon Group from GBX 1,060 ($13.58) to GBX 1,030 ($13.19) and set an “overweight” rating on the stock in a research note on Tuesday, May 7th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Pennon Group in a research note on Friday, July 5th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 830 ($10.63) price objective on shares of Pennon Group in a research note on Thursday, April 11th.

Pennon Group Trading Down 1.9 %

The company has a current ratio of 0.97, a quick ratio of 1.54 and a debt-to-equity ratio of 343.14. The business’s 50-day moving average is GBX 630.98 and its two-hundred day moving average is GBX 664.87. The firm has a market cap of £1.91 billion, a P/E ratio of -16,650.00, a P/E/G ratio of 8.20 and a beta of 0.28.

Pennon Group Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, July 25th will be given a dividend of GBX 30.33 ($0.39) per share. This represents a dividend yield of 4.23%. This is a boost from Pennon Group’s previous dividend of $14.04. The ex-dividend date is Thursday, July 25th. Pennon Group’s dividend payout ratio is presently -152,500.00%.

Insider Activity at Pennon Group

In other Pennon Group news, insider Susan Davy sold 5,951 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of GBX 566 ($7.25), for a total transaction of £33,682.66 ($43,144.18). Insiders purchased 66 shares of company stock worth $43,316 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

About Pennon Group

Pennon Group Plc provides clean water and wastewater services in the United Kingdom. It provides water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; water-only services in the areas of Dorset, Hampshire, and Wiltshire; and water and wastewater retail services to non-household customers in Great Britain.