SSE plc (LON:SSE – Get Rating)’s share price reached a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as GBX 1,919 ($23.87) and last traded at GBX 1,897 ($23.59), with a volume of 355938 shares traded. The stock had previously closed at GBX 1,869.50 ($23.25).
The newly announced dividend which will be paid on Thursday, September 21st. Investors of record on Thursday, July 27th will be issued a dividend of GBX 67.70 ($0.84) per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a yield of 3.62%. This is an increase from SSE’s previous dividend of $29.00. SSE’s dividend payout ratio is 9,175.26%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SSE. JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 2,100 ($26.12) price target on shares of SSE in a report on Monday, April 24th. The Goldman Sachs Group reissued a “buy” rating on shares of SSE in a research report on Wednesday, March 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of GBX 1,931.13 ($24.02).
SSE Price Performance
In other news, insider Martin Pibworth purchased 48 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were purchased at an average price of GBX 1,757 ($21.85) per share, with a total value of £843.36 ($1,048.96). Insiders own 0.13% of the company’s stock.
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.
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