Pennon Group (PNN)

Sector:

Utilities

Index:

FTSE 250

647.50p
   
  • Change Today:
    -8.50p
  • 52 Week High: 889.50
  • 52 Week Low: 551.00
  • Currency: UK Pounds
  • Shares Issued: 286.04m
  • Volume: 544,919
  • Market Cap: £1,852.09m
  • RiskGrade: 123

CMA partly clears Pennon's acquisition of Bristol Water

By Iain Gilbert

Date: Friday 05 Nov 2021

LONDON (ShareCast) - (Sharecast News) - The Competition and Markets Authority said on Friday that it does not intend to further review Pennon Group's acquisition of Bristol Water Holdings under the Enterprise Act 2002, stating the deal would not lead to a lessening of competition, based on information currently available to it.
However, the UK watchdog did note it was still mulling over whether or not it should refer the deal for a phase 2 investigation under the Water Industry Act 1991.

Back in October, the CMA vowed to look into the deal in order to see if it would prejudice the UK water regulator Ofwat's ability to make comparisons between water enterprises.

The CMA set itself a deadline of 22 December for its phase 1 decision.

Pennon originally announced the deal in June, with the group purchasing snapping up Bristol Water for an equity value of £425.0m and an enterprise value of £814.0m, including assumed debt.

As of 0845 GMT, Pennon shares were up 0.85% at 1,210.22p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Pennon Market Data

Currency UK Pounds
Share Price 647.50p
Change Today -8.50p
% Change -1.30 %
52 Week High 889.50
52 Week Low 551.00
Volume 544,919
Shares Issued 286.04m
Market Cap £1,852.09m
RiskGrade 123

Pennon Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
30.56% below the market average30.56% below the market average30.56% below the market average30.56% below the market average30.56% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average
Price Trend
11.89% below the market average11.89% below the market average11.89% below the market average11.89% below the market average11.89% below the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Income
36.44% above the market average36.44% above the market average36.44% above the market average36.44% above the market average36.44% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
85.83% below the market average85.83% below the market average85.83% below the market average85.83% below the market average85.83% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average

What The Brokers Say

Strong Buy 2
Buy 3
Neutral 6
Sell 1
Strong Sell 0
Total 12
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Pennon Dividends

  Latest Previous
  Interim Final
Ex-Div 25-Jan-24 20-Jul-23
Paid 05-Apr-24 04-Sep-23
Amount 14.04p 29.77p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 344,078 @ 647.50p
16:35 732 @ 647.50p
16:35 693 @ 647.50p
16:35 1,024 @ 647.50p
16:35 720 @ 647.50p

Pennon Key Personnel

Chair Gill Rider
CEO Susan Davy
CFO Steve Buck

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