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

Pennon Group plc (LON:PNN) had its price objective lowered by Morgan Stanley from GBX 930 ($12.12) to GBX 920 ($11.99) in a research report released on Tuesday, July 18th, MarketBeat.com reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also issued reports on PNN. Deutsche Bank AG reaffirmed a buy rating and set a GBX 900 ($11.72) target price on shares of Pennon Group plc in a report on Wednesday, May 3rd. Beaufort Securities reaffirmed a buy rating on shares of Pennon Group plc in a report on Thursday, May 25th. HSBC Holdings plc reaffirmed a buy rating and set a GBX 940 ($12.25) target price on shares of Pennon Group plc in a report on Thursday, May 4th. Barclays PLC upped their target price on shares of Pennon Group plc from GBX 770 ($10.03) to GBX 810 ($10.55) and gave the stock an underweight rating in a report on Monday, June 12th. Finally, Citigroup Inc. reaffirmed a neutral rating and set a GBX 840 ($10.94) target price on shares of Pennon Group plc in a report on Wednesday, May 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Pennon Group plc currently has a consensus rating of Hold and an average target price of GBX 891.92 ($11.62).

Pennon Group plc (LON:PNN) opened at 801.50 on Tuesday. The firm’s 50-day moving average is GBX 842.59 and its 200 day moving average is GBX 855.54. Pennon Group plc has a 52-week low of GBX 761.00 and a 52-week high of GBX 947.23. The company’s market cap is GBX 3.31 billion.

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The company 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 is Thursday, July 6th. This represents a dividend yield of 2.7%. This is a positive change from Pennon Group plc’s previous dividend of $11.09.

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.