Pennon Group (LON:PNN) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Pennon Group Plc (LON:PNN) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 496.96 and traded as high as GBX 524.50. Pennon Group shares last traded at GBX 522, with a volume of 295,389 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays reissued an “overweight” rating and set a GBX 670 target price on shares of Pennon Group in a research note on Thursday, October 16th. Citigroup downgraded Pennon Group to a “neutral” rating and increased their price target for the stock from GBX 539 to GBX 542 in a research report on Monday, November 3rd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Pennon Group currently has a consensus rating of “Moderate Buy” and an average target price of GBX 606.

Pennon Group Trading Up 0.4%

The company’s 50-day moving average price is GBX 520.39 and its 200-day moving average price is GBX 496.96. The firm has a market cap of £2.46 billion, a price-to-earnings ratio of 108.75, a price-to-earnings-growth ratio of 8.20 and a beta of 0.29. The company has a quick ratio of 1.54, a current ratio of 0.97 and a debt-to-equity ratio of 341.72.

Pennon Group (LON:PNN) last released its quarterly earnings results on Thursday, November 27th. The company reported GBX 14 earnings per share for the quarter. Pennon Group had a negative net margin of 1.05% and a negative return on equity of 0.88%. Equities analysts expect that Pennon Group Plc will post 1.0402417 EPS for the current fiscal year.

Insider Activity at Pennon Group

In other news, insider David Sproul bought 4,635 shares of Pennon Group stock in a transaction on Tuesday, December 9th. The stock was acquired at an average price of GBX 536 per share, with a total value of £24,843.60. Insiders purchased a total of 4,693 shares of company stock worth $2,513,766 over the last ninety days. 0.37% of the stock is owned by corporate insiders.

About Pennon Group

At the top end of the FTSE 250, Pennon is an infrastructure group, focused on the UK water market is one of only three listed water companies in the UK. Operating in a stable regulatory environment with a positive outlook, we are focused on long-term sustainable growth, through disciplined capital allocation, organic and acquisitive. Our 25-year rolling licence provides predictable index-linked growth and visibility over future revenues.

We provide clean and wastewater services through our businesses across the Great South West.