SSE (LON:SSE) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of SSE plc (LON:SSE) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 2,392.55 and traded as high as GBX 2,428. SSE shares last traded at GBX 2,414, with a volume of 9,466,316 shares.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup increased their price target on SSE from GBX 1,997 to GBX 2,036 and gave the stock a “sell” rating in a report on Monday, January 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on SSE from GBX 2,850 to GBX 2,900 and gave the company a “buy” rating in a report on Friday, April 24th. JPMorgan Chase & Co. increased their target price on SSE from GBX 2,580 to GBX 2,925 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Jefferies Financial Group raised their target price on shares of SSE from GBX 2,510 to GBX 3,060 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Finally, UBS Group reiterated a “neutral” rating and issued a GBX 2,350 price target on shares of SSE in a report on Friday, January 23rd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 2,606.57.

SSE Trading Down 1.8%

The company has a market capitalization of £29.10 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 3.06 and a beta of 0.62. The business has a fifty day moving average price of GBX 2,611.44 and a 200 day moving average price of GBX 2,392.55. The company has a quick ratio of 0.50, a current ratio of 0.97 and a debt-to-equity ratio of 81.00.

About SSE

SSE is a leading generator of renewables and flexible energy in the GB and Ireland markets, and one of the world’s fastest-growing electricity networks companies.

This includes onshore and offshore wind farms, hydro, electricity transmission and distribution networks, power stations, carbon capture and hydrogen, solar and batteries, as well as providing energy products and services for businesses and other customers.

SSE’s more than 14,000 employees are dedicated to delivering cleaner, more secure energy and ensuring a just transition to a net zero future.