Pennon Group (LON:PNN) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Pennon Group Plc (LON:PNN) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 535.93 and traded as high as GBX 547. Pennon Group shares last traded at GBX 540, with a volume of 46,982,438 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PNN shares. Citigroup upped their price objective on Pennon Group from GBX 628 to GBX 636 and gave the stock a “buy” rating in a report on Wednesday, March 11th. JPMorgan Chase & Co. upped their target price on Pennon Group from GBX 565 to GBX 615 and gave the company a “neutral” rating in a report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Pennon Group from GBX 580 to GBX 600 and gave the company a “buy” rating in a report on Monday, January 19th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Pennon Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 630.25.

Pennon Group Price Performance

The company has a quick ratio of 1.54, a current ratio of 1.62 and a debt-to-equity ratio of 357.72. The company has a market cap of £2.58 billion, a price-to-earnings ratio of 114.06, a price-to-earnings-growth ratio of 8.20 and a beta of 0.56. The company has a fifty day simple moving average of GBX 555.57 and a two-hundred day simple moving average of GBX 535.93.

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.