Pennon Group (LON:PNN) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Pennon Group Plc (LON:PNN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 523.28 and traded as high as GBX 563. Pennon Group shares last traded at GBX 543.50, with a volume of 1,686,657 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PNN. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Pennon Group from GBX 580 to GBX 600 and gave the company a “buy” rating in a research note on Monday, January 19th. Citigroup lifted their target price on shares of Pennon Group from GBX 628 to GBX 636 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Pennon Group presently has an average rating of “Buy” and an average price target of GBX 635.33.

Pennon Group Trading Up 0.5%

The company has a debt-to-equity ratio of 357.72, a quick ratio of 1.54 and a current ratio of 1.62. The firm has a 50-day moving average of GBX 560.82 and a 200-day moving average of GBX 523.28. The firm has a market capitalization of £2.56 billion, a P/E ratio of 113.23, a price-to-earnings-growth ratio of 8.20 and a beta of 0.51.

Pennon Group Company Profile

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.