Pennon Group (PNN)

Sector:

Utilities

Index:

FTSE 250

603.00p
   
  • Change Today:
    -10.50p
  • 52 Week High: 757.00
  • 52 Week Low: 528.50
  • Currency: UK Pounds
  • Shares Issued: 286.04m
  • Volume: 532,886
  • Market Cap: £1,724.84m
  • RiskGrade: 123
  • Beta: 1.16

RBC Capital upgrades United Utilities, downgrades Pennon

By Michele Maatouk

Date: Wednesday 09 Oct 2024

LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets upgraded its stance on United Utilities on Wednesday, but downgraded Pennon as it took a look at UK water stocks.

The bank lifted United Utilities to 'outperform' from 'sector perform' and upped the price target to 1,150p from 1,050p. RBC said it was switching to UU as its preferred play in the water space given its view on upside potential into Ofwat's Final Determinations and a strong balance sheet position.

RBC downgraded Pennon to 'sector perform' from 'outperform' and cut the price target to 675p from 725p, saying the company's updated capex guidance means the balance sheet comes under pressure.

Severn Trent was kept at 'sector perform', with the price target lifted to 2,600p from 2,500p. RBC said SVT "remains a quality name in the space, in our view, but trades in line with listed network peers, which means we struggle to justify material further upside".

At 1100 BST, UU shares were up 2.4% at 1,030.50p, Severn Trent was up 1.3% at 2,544.60p and Pennon was down 0.4% at 557.00p.

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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 603.00p
Change Today -10.50p
% Change -1.71 %
52 Week High 757.00
52 Week Low 528.50
Volume 532,886
Shares Issued 286.04m
Market Cap £1,724.84m
Beta 1.16
RiskGrade 123

Pennon Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
18.28% below the market average18.28% below the market average18.28% below the market average18.28% below the market average18.28% below the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
24.85% below the market average24.85% below the market average24.85% below the market average24.85% below the market average24.85% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
65.75% below the market average65.75% below the market average65.75% below the market average65.75% below the market average65.75% 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

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 8
Sell 0
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 30-Jan-25 25-Jul-24
Paid 04-Apr-25 05-Sep-24
Amount 14.69p 30.33p

Trades for 29-Nov-2024

Time Volume / Share Price
14:53 1 @ 606.00p
14:53 1 @ 606.00p
16:35 651 @ 603.00p
16:35 386,135 @ 603.00p
16:35 282 @ 603.00p

Pennon Key Personnel

CEO Susan Davy
CFO Laura Flowerdew

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