SSE (LON:SSE) Hits New 12-Month High – Should You Buy?

Shares of SSE plc (LON:SSE) hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 2,670 and last traded at GBX 2,666, with a volume of 34059180 shares trading hands. The stock had previously closed at GBX 2,613.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SSE shares. Royal Bank Of Canada boosted their target price on shares of SSE from GBX 2,200 to GBX 2,475 and gave the stock an “outperform” rating in a research report on Friday, November 14th. UBS Group reissued a “neutral” rating and issued a GBX 2,350 price target on shares of SSE in a research report on Friday, January 23rd. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 2,425 target price on shares of SSE in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft raised their price target on SSE from GBX 2,350 to GBX 2,500 and gave the stock a “buy” rating in a report on Monday, January 19th. Finally, Citigroup increased their price objective on SSE from GBX 1,997 to GBX 2,036 and gave the stock a “sell” rating in a report on Monday, January 26th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 2,359.43.

SSE Trading Up 1.8%

The firm’s 50-day simple moving average is GBX 2,364.42 and its 200-day simple moving average is GBX 2,055.35. The firm has a market capitalization of £32.06 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 3.06 and a beta of 0.56. The company has a quick ratio of 0.50, a current ratio of 1.10 and a debt-to-equity ratio of 82.62.

Insider Buying and Selling at SSE

In other SSE news, insider Martin Pibworth acquired 19 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was bought at an average price of GBX 2,423 per share, with a total value of £460.37. In the last three months, insiders have purchased 29 shares of company stock valued at $70,808. Insiders own 0.16% of the company’s stock.

SSE Company Profile

SSE is a leading generator of renewables and flexible energy in the GB and Ireland markets, and one of the world’s fastest-growing electricity networks companies.

This includes onshore and offshore wind farms, hydro, electricity transmission and distribution networks, power stations, carbon capture and hydrogen, solar and batteries, as well as providing energy products and services for businesses and other customers.

SSE’s more than 14,000 employees are dedicated to delivering cleaner, more secure energy and ensuring a just transition to a net zero future.