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Pin to quick picksPennon Share News (PNN)

Share Price Information for Pennon (PNN)

London Stock Exchange
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Share Price: 605.50
Bid: 605.50
Ask: 606.50
Change: 6.50 (1.09%)
Spread: 1.00 (0.165%)
Open: 603.00
High: 607.50
Low: 594.00
Prev. Close: 599.00
PNN Live PriceLast checked at -

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JP Morgan stays at 'neutral' on Pennon due to regulatory and political risks

Fri, 13th Sep 2019 15:15

(Sharecast News) - Analysts at JP Morgan stayed at 'neutral' on shares of UK waste and water group Pennon following its Capital Markets event on Thursday, telling clients that for now regulatory and UK political risks offset the scope for growth in the company's waste unit.

In a research note sent to clients, they sounded a positive note on the company's plans to grow its plastic waste recycling footprint, especially given the social pressure for Britain to stop exporting roughly two thirds of the 1.0m tonnes of garbage collected each year.

On top of that, the UK's plans were to increase plastic recycling from 46.0% to 75.0%, they said.

"Policy settings are currently geared towards increasing the proportion of plastics recycled and increasing the amount that is processed within the UK. Given the consumer and commercial push in this sector, government policy is lagging."

However, they went on to add that: "our neutrality remains towards the UK waters due to persistent elevated regulatory risk (final decision due in Dec) and political risk (rising likelihood of UK general election)."
More News
22 Dec 2021 10:14

Pennon to make proposal to CMA after Bristol Water merger review

(Sharecast News) - Pennon Group updated the market on the Competition and Markets Authority's phase one review of the merger of Bristol Water with its South West Water division on Wednesday, after the regulator confirmed its intention to pursue a phase two merger review unless acceptable undertakings were put forward by Pennon.

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22 Dec 2021 09:12

LONDON MARKET OPEN: Stocks mixed; UK economic recovery slows

LONDON MARKET OPEN: Stocks mixed; UK economic recovery slows

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22 Dec 2021 08:30

LONDON BRIEFING: UK CMA takes action on Taylor Wimpey, Pennon and CVS

LONDON BRIEFING: UK CMA takes action on Taylor Wimpey, Pennon and CVS

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22 Dec 2021 08:00

LONDON MARKET PRE-OPEN: Pennon purchase of Bristol Water under threat

LONDON MARKET PRE-OPEN: Pennon purchase of Bristol Water under threat

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2 Dec 2021 09:52

LONDON BROKER RATINGS: Upgrades for Old Mutual and Superdry; Drax cut

LONDON BROKER RATINGS: Upgrades for Old Mutual and Superdry; Drax cut

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1 Dec 2021 10:22

Pennon shares fall as enters third phase of share buyback programme

Pennon shares fall as enters third phase of share buyback programme

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1 Dec 2021 09:41

LONDON BROKER RATINGS: SocGen upgrades Diageo; Barclays ups Dr Martens

LONDON BROKER RATINGS: SocGen upgrades Diageo; Barclays ups Dr Martens

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30 Nov 2021 10:47

Pennon's interim revenue and profit almost rise by third

Pennon's interim revenue and profit almost rise by third

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30 Nov 2021 07:44

Pennon reports higher H1 profit and dividend

(Sharecast News) - Pennon said sewage problems were reducing as the water company reported higher first-half profit and an increased dividend.

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5 Nov 2021 14:35

TRADING UPDATES: Berkeley Energia served writ; Equiniti takeover nears

TRADING UPDATES: Berkeley Energia served writ; Equiniti takeover nears

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5 Nov 2021 07:50

CMA partly clears Pennon's acquisition of Bristol Water

(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.

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28 Oct 2021 14:44

CMA proceeding with probe into Pennon acquisition of Bristol Water

(Sharecast News) - The Competition and Markets Authority gave notice on Thursday that it has sufficient information on the completed acquisition of Bristol Water by Pennon Group to enable it to begin an investigation.

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28 Oct 2021 14:43

IN BRIEF: Regulator begins probe into Pennon takeover of Bristol Water

IN BRIEF: Regulator begins probe into Pennon takeover of Bristol Water

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8 Oct 2021 09:40

LONDON BROKER RATINGS: Barclays raises Ascential; HSBC upgrades Pennon

LONDON BROKER RATINGS: Barclays raises Ascential; HSBC upgrades Pennon

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8 Oct 2021 08:06

LONDON BRIEFING: Royal Mail expands in Canada, land of Mid-Nite Sun

LONDON BRIEFING: Royal Mail expands in Canada, land of Mid-Nite Sun

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