LONDON, July 6, 2026, 15:05 (BST)
- SSE shares dropped 1.83% to 2,461p by 15:01 BST. The FTSE 100 slipped 0.27% at 14:27 BST.
- The stock dropped back 46p after its 47p jump on Friday, holding just 1p over Thursday’s close.
- SSE is trading near 13.6x the midpoint of its adjusted EPS guidance for FY2026/27 at Monday’s price, and about 10.4x the FY2029/30 target midpoint.
- SSE is set for its next event on July 16, when it plans to hold its AGM and post a Q1 trading statement.
SSE PLC (LON:SSE) dropped 1.83% to 2,461p at 15:01 BST on Monday, underperforming the FTSE 100, which slipped 0.27% based on delayed numbers at 14:27 BST. According to the London Stock Exchange, July 6 is a standard trading day, running from 0800 to 1630 BST.
SSE finished Thursday at £24.60, then climbed to £25.07 on Friday. By Monday afternoon, the stock had slipped to £24.61, wiping out nearly all the gain from Friday and putting shares right back near Thursday’s close.
| Recent tape | Level | Market read |
|---|---|---|
| Monday price, 15:01 BST | 2,461p | Shares dropped 1.83% today |
| Friday close | 2,507p | Stock gained 1.91% on Friday |
| Thursday close | 2,460p | Monday’s move put the stock up 1p from Thursday |
| FTSE 100, 14:27 BST | 10,649.99 | Index slipped 0.27% |
| SSE volume, 15:01 BST | 1.17 mln | That’s 29% of the 4.04 mln average |
| 52-week range | 1,597p-2,767.5p | Monday price sat 11.1% off the high |
This is key since the stock looks less tied to its recent dividend and more to whether SSE can push through a big grid investment plan without tapping shareholders again. Google Finance put SSE’s market cap at £29.85 billion on Monday, while its five-year investment aims for £33 billion—roughly 111% of that value.
SSE stuck with its adjusted EPS range of 168p-193p for 2026/27 and 225p-250p for 2029/30 in its May update. The company also said capex for full-year 2026/27 will climb to over £5 billion.
| Company figure or forecast | SSE number | Market math at 2,461p |
|---|---|---|
| Adjusted EPS for 2025/26 | 153.5p | 16.0x |
| Reported EPS for 2025/26 | 105.5p | 23.3x |
| Adjusted EPS guidance for 2026/27 | 168p-193p | 14.6x-12.8x |
| Adjusted EPS target for 2029/30 | 225p-250p | 10.9x-9.8x |
| Capex forecast for 2026/27 | >£5 bln | >16.8% of market cap |
| Five-year investment plan | £33 bln | 110.6% of market cap |
| Dividend for 2025/26 | 68.7p | 2.79% yield |
The table draws more attention to the July 16 trading statement. Shares already reflect some earnings growth, but the target for 2029/30 prices in at a little over 10 times midpoint earnings, before seeing how delivery risk plays out.
SSE CEO Martin Pibworth said in the May results the group had “met all our financial and operational targets.” He called the £33 billion plan “well under way.” For 2025/26, SSE reported adjusted investment and capex of £3.586 billion, up 23%. Regulated electricity networks accounted for 72% of that total.
Funding is where the strain shows up. SSE reported net debt and hybrid capital together at £10.1 billion, putting net debt at 3.3 times EBITDA for 2025/26. SSE said it expects net debt in 2026/27 to remain inside investment-grade ratings, even as capex goes up.
Income investors are watching SSE’s next key dates. The company’s calendar puts July 23 as the final ex-dividend date, with July 24 as the record date and Sept. 17 set for the final dividend to be paid. SSE will pay 47.3p for the final dividend, bringing the 2025/26 total payout up to 68.7p.
SSE expects adjusted operating profit at SSEN Transmission to come in well above 2025/26 levels for 2026/27. The company sees SSEN Distribution and SSE Renewables roughly flat, while SSE Thermal is set for a substantial gain and Energy Customer Solutions is expected to fall. The next update is the Q1 statement due July 16.
