SSE (LON:SSE) Stock Price Crosses Above 200 Day Moving Average of $1,721.43

SSE plc (LON:SSE) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,721.43 ($21.92) and traded as high as GBX 1,800 ($22.92). SSE shares last traded at GBX 1,771 ($22.55), with a volume of 1,929,255 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a GBX 2,050 ($26.10) target price on shares of SSE in a report on Tuesday, May 28th. JPMorgan Chase & Co. boosted their price objective on shares of SSE from GBX 2,050 ($26.10) to GBX 2,075 ($26.42) and gave the company an “overweight” rating in a research note on Friday, April 12th. Finally, Berenberg Bank cut their target price on SSE from GBX 2,300 ($29.29) to GBX 2,000 ($25.47) and set a “buy” rating on the stock in a research report on Friday, March 1st.

SSE Price Performance

The stock has a market cap of £19.26 billion, a PE ratio of 3,333.96, a price-to-earnings-growth ratio of 3.21 and a beta of 0.57. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 84.31. The company’s fifty day moving average is GBX 1,729.73 and its 200 day moving average is GBX 1,721.42.

SSE Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, July 25th will be issued a dividend of GBX 40 ($0.51) per share. This is a positive change from SSE’s previous dividend of $20.00. The ex-dividend date is Thursday, July 25th. This represents a dividend yield of 2.22%. SSE’s payout ratio is presently 16,603.77%.

About SSE

SSE plc engages in the generation, transmission, distribution, and supply of electricity. It generates electricity from water, gas, coal, oil, and multi fuel. The company distributes electricity to approximately 3.8 million homes and businesses across the north of the central belt of Scotland and central southern England; and owns, operates, and develops high voltage electricity transmission system in the north of Scotland and remote islands.