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

Pennon Group Plc (LON:PNN) announced a dividend on Tuesday, May 21st, Upcoming.Co.Uk reports. Shareholders of record on Thursday, July 25th will be paid a dividend of GBX 30.33 ($0.39) per share on Thursday, September 5th. This represents a yield of 4.23%. The ex-dividend date of this dividend 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 Price Performance

Shares of PNN opened at GBX 667.50 ($8.48) on Wednesday. The stock has a market cap of £1.91 billion, a PE ratio of -11,325.00, a price-to-earnings-growth ratio of 8.20 and a beta of 0.28. The company has a debt-to-equity ratio of 340.01, a quick ratio of 1.54 and a current ratio of 1.27. Pennon Group has a fifty-two week low of GBX 532.83 ($6.77) and a fifty-two week high of GBX 810 ($10.29). The firm’s 50-day simple moving average is GBX 671.46 and its two-hundred day simple moving average is GBX 699.69.

Analyst Ratings Changes

A number of brokerages have weighed in on PNN. Barclays cut their price objective on shares of Pennon Group from GBX 1,060 ($13.47) to GBX 1,030 ($13.09) and set an “overweight” rating on the stock in a report on Tuesday, May 7th. Morgan Stanley reiterated an “equal weight” rating on shares of Pennon Group in a report on Tuesday, May 14th. JPMorgan Chase & Co. cut their price target on shares of Pennon Group from GBX 740 ($9.41) to GBX 710 ($9.02) and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 830 ($10.55) price target on shares of Pennon Group in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of GBX 840 ($10.68).

About Pennon Group

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.