Deutsche Bank Reaffirms Hold Rating for Pennon Group (PNN)
Several other brokerages also recently issued reports on PNN. Macquarie reissued an outperform rating and set a GBX 920 ($12.38) target price on shares of Pennon Group in a research note on Thursday, August 31st. reissued a buy rating and set a GBX 960 ($12.92) target price on shares of Pennon Group in a research note on Wednesday, September 13th. Beaufort Securities reissued a buy rating on shares of Pennon Group in a research note on Tuesday, September 26th. J P Morgan Chase & Co lifted their target price on Pennon Group from GBX 840 ($11.31) to GBX 860 ($11.57) and gave the company a neutral rating in a research note on Thursday, October 26th. Finally, Credit Suisse Group reissued an underperform rating and set a GBX 710 ($9.56) target price on shares of Pennon Group in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Pennon Group currently has an average rating of Hold and an average price target of GBX 861 ($11.59).
Pennon Group (LON:PNN) opened at GBX 791.50 ($10.65) on Thursday. Pennon Group has a 12-month low of GBX 752.50 ($10.13) and a 12-month high of GBX 947.23 ($12.75).
The company also recently disclosed a dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Thursday, January 25th will be paid a GBX 11.97 ($0.16) dividend. This represents a yield of 1.54%. The ex-dividend date is Thursday, January 25th.
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About Pennon Group
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.
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