Morgan Stanley Trims Pennon Group plc (PNN) Target Price to GBX 920

Pennon Group plc (LON:PNN) had its target price cut by Morgan Stanley from GBX 930 ($12.14) to GBX 920 ($12.01) in a research note published on Tuesday morning, MarketBeat.com reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also weighed in on PNN. Deutsche Bank AG reiterated a buy rating and set a GBX 900 ($11.75) target price on shares of Pennon Group plc in a research report on Friday, March 24th. HSBC Holdings plc restated a buy rating and issued a GBX 940 ($12.27) price objective on shares of Pennon Group plc in a research report on Wednesday, April 26th. Citigroup Inc. restated a neutral rating and issued a GBX 840 ($10.97) price objective on shares of Pennon Group plc in a research report on Wednesday, May 3rd. Royal Bank Of Canada restated an outperform rating and issued a GBX 950 ($12.41) price objective on shares of Pennon Group plc in a research report on Thursday, May 4th. Finally, Beaufort Securities restated a buy rating on shares of Pennon Group plc in a research report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Pennon Group plc has an average rating of Hold and a consensus price target of GBX 891.92 ($11.65).

Shares of Pennon Group plc (LON:PNN) opened at 828.50 on Tuesday. The firm has a 50-day moving average of GBX 860.48 and a 200-day moving average of GBX 856.41. Pennon Group plc has a 12-month low of GBX 761.00 and a 12-month high of GBX 947.23. The company’s market cap is GBX 3.43 billion.

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

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.