Pennon Group (LON:PNN) Given New GBX 710 Price Target at JPMorgan Chase & Co.

Pennon Group (LON:PNN) had its target price trimmed by JPMorgan Chase & Co. from GBX 740 ($9.30) to GBX 710 ($8.92) in a research report released on Friday morning, Marketbeat reports. The brokerage currently has a neutral rating on the stock.

Separately, Jefferies Financial Group reaffirmed a buy rating and set a GBX 830 ($10.43) price objective on shares of Pennon Group in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of GBX 852 ($10.70).

Pennon Group Trading Up 1.4 %

LON PNN opened at GBX 698.50 ($8.77) on Friday. The stock has a market cap of £2.00 billion, a P/E ratio of -11,641.67, a price-to-earnings-growth ratio of 8.20 and a beta of 0.29. Pennon Group has a fifty-two week low of GBX 532.83 ($6.69) and a fifty-two week high of GBX 876.50 ($11.01). The stock has a 50 day simple moving average of GBX 662.85 and a two-hundred day simple moving average of GBX 699.28. 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 Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, January 25th were issued a dividend of GBX 14.04 ($0.18) per share. The ex-dividend date was Thursday, January 25th. This represents a dividend yield of 1.88%. Pennon Group’s payout ratio is -73,333.33%.

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.