JPMorgan Chase & Co. Trims Pennon Group (LON:PNN) Target Price to GBX 710

Pennon Group (LON:PNN) had its price target lowered by JPMorgan Chase & Co. from GBX 740 ($9.30) to GBX 710 ($8.92) in a research note released on Friday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Separately, Jefferies Financial Group reaffirmed a buy rating and issued a GBX 830 ($10.43) 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’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of GBX 852 ($10.70).

Pennon Group Stock Performance

Shares of Pennon Group stock opened at GBX 698.50 ($8.77) on Friday. The company has a 50 day moving average price of GBX 662.85 and a 200 day moving average price of GBX 699.24. The firm has a market capitalization of £2.00 billion, a P/E ratio of -11,641.67, a PEG ratio of 8.20 and a beta of 0.29. The company has a quick ratio of 1.54, a current ratio of 1.27 and a debt-to-equity ratio of 340.01. Pennon Group has a 52 week low of GBX 532.83 ($6.69) and a 52 week high of GBX 876.50 ($11.01).

Pennon Group Cuts Dividend

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

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.