Pennon Group Plc (LON:PNN) Increases Dividend to GBX 30.33 Per Share

Pennon Group Plc (LON:PNN) declared a dividend on Tuesday, May 21st, Upcoming.Co.Uk reports. Stockholders of record on Thursday, July 25th will be given a dividend of GBX 30.33 ($0.39) per share on Thursday, September 5th. This represents a dividend yield of 4.23%. The ex-dividend date is Thursday, July 25th. This is a boost from Pennon Group’s previous dividend of $14.04. The official announcement can be seen at this link.

Pennon Group Trading Down 0.2 %

Shares of LON:PNN opened at GBX 644.50 ($8.34) on Wednesday. The stock’s 50-day simple moving average is GBX 621.74 and its two-hundred day simple moving average is GBX 658.82. The stock has a market capitalization of £1.84 billion, a price-to-earnings ratio of -16,137.50, a PEG ratio of 8.20 and a beta of 0.28. Pennon Group has a 52-week low of GBX 532.83 ($6.89) and a 52-week high of GBX 775 ($10.02). The company has a debt-to-equity ratio of 343.14, a quick ratio of 1.54 and a current ratio of 0.97.

Insider Activity at Pennon Group

In other news, insider Susan Davy sold 5,951 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of GBX 566 ($7.32), for a total value of £33,682.66 ($43,562.67). In the last quarter, insiders have bought 66 shares of company stock worth $43,638. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on PNN. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Pennon Group in a report on Friday, July 5th. Barclays reduced their price objective on Pennon Group from GBX 1,060 ($13.71) to GBX 1,030 ($13.32) and set an “overweight” rating for the company in a research note on Tuesday, May 7th. Morgan Stanley reissued an “equal weight” rating on shares of Pennon Group in a report on Tuesday, May 14th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 830 ($10.73) price objective on shares of Pennon Group in a research note on Thursday, April 11th.

Pennon Group Company Profile

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.