SSE (LON:SSE) Trading Up 10.8% Following Dividend Announcement

SSE plc (LON:SSE)’s stock price rose 10.8% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as GBX 2,307 and last traded at GBX 2,187.37. Approximately 1,336,877,750 shares were traded during trading, an increase of 6,817% from the average daily volume of 19,326,898 shares. The stock had previously closed at GBX 1,974.50.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays reissued an “overweight” rating and set a GBX 2,500 price target on shares of SSE in a report on Thursday, October 16th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 2,425 price objective on shares of SSE in a report on Tuesday, November 4th. UBS Group reiterated a “buy” rating and issued a GBX 2,200 target price on shares of SSE in a research note on Friday, November 7th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 2,230 target price on shares of SSE in a report on Thursday, October 23rd. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,338.75.

SSE Stock Up 10.8%

The firm has a 50 day moving average price of GBX 1,796.17 and a 200-day moving average price of GBX 1,790.98. The firm has a market cap of £24.09 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 3.06 and a beta of 0.56. The company has a debt-to-equity ratio of 82.62, a current ratio of 1.10 and a quick ratio of 0.50.

SSE (LON:SSE) last posted its quarterly earnings results on Wednesday, November 12th. The company reported GBX 36.10 earnings per share for the quarter. SSE had a net margin of 16.36% and a return on equity of 17.83%. As a group, equities analysts predict that SSE plc will post 163.8865004 EPS for the current fiscal year.

About SSE

SSE is an integrated energy group focused on regulated electricity networks and renewable energy with flexible generation.
Our strategy is to create value for shareholders and society in a sustainable way by developing, building, operating and investing in the electricity infrastructure and businesses needed in the transition to net zero.