Morgan Stanley Lowers Pennon Group plc (LON:PNN) Price Target to GBX 920

Pennon Group plc (LON:PNN) had its price target reduced by Morgan Stanley from GBX 930 ($12.11) to GBX 920 ($11.98) in a research note published on Tuesday, July 18th, MarketBeat Ratings reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also issued research reports about the stock. Deutsche Bank AG reiterated a buy rating and set a GBX 980 ($12.76) target price on shares of Pennon Group plc in a research note on Friday, June 23rd. Beaufort Securities reiterated a buy rating on shares of Pennon Group plc in a research note on Thursday, May 25th. Finally, HSBC Holdings plc reiterated a buy rating and set a GBX 940 ($12.24) target price on shares of Pennon Group plc in a research note on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of GBX 891.92 ($11.62).

Pennon Group plc (LON:PNN) traded down 0.62% on Tuesday, reaching GBX 801.00. 781,321 shares of the company were exchanged. Pennon Group plc has a 52 week low of GBX 761.00 and a 52 week high of GBX 947.23. The stock has a 50-day moving average price of GBX 815.59 and a 200 day moving average price of GBX 856.55. The stock’s market capitalization is GBX 3.31 billion.

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The business also recently disclosed a dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, July 6th will be issued a GBX 24.87 ($0.32) dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a yield of 2.7%. This is an increase from Pennon Group plc’s previous dividend of $11.09.

Pennon Group plc Company Profile

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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