Pennon Group (LON:PNN) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Pennon Group Plc (LON:PNN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 518.31 and traded as high as GBX 593. Pennon Group shares last traded at GBX 569, with a volume of 65,612,188 shares.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft boosted their price target on Pennon Group from GBX 580 to GBX 600 and gave the company a “buy” rating in a research note on Monday, January 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Pennon Group has an average rating of “Moderate Buy” and an average target price of GBX 604.

Pennon Group Trading Up 1.2%

The stock has a market capitalization of £2.72 billion, a P/E ratio of 120.00, a P/E/G ratio of 8.20 and a beta of 0.49. The company has a current ratio of 1.62, a quick ratio of 1.54 and a debt-to-equity ratio of 357.72. The business has a 50-day moving average price of GBX 556.14 and a two-hundred day moving average price of GBX 518.31.

Insiders Place Their Bets

In other news, insider David Sproul acquired 4,635 shares of Pennon Group stock in a transaction on Tuesday, December 9th. The shares were purchased at an average cost of GBX 536 per share, for a total transaction of £24,843.60. 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.