London, July 4, 2026, 17:01 BST
- SSE closed the week at 2,507p, up 3.55% on the week.
- FTSE 100 gained 1.63% in the same period.
- Plans surfaced this week for new north Scotland transmission projects worth more than £12 billion, compared with SSE’s equity value of about £30 billion.
- The AGM and Q1 trading statement are set for July 16, with the final dividend going ex on July 23.
With London markets shut until Monday, SSE PLC LON:SSE ended Friday at £25.07, up 1.91% for the session but still 9.4% under its April peak. About 2.0 million shares traded, well below the 50-day average MarketWatch tracks. The FTSE 100 (INDEXFTSE:UKX) settled at 10,679.03 and finished the week ahead, as gains in financials and precious-metals miners lifted the index, Reuters said.
SSE shares didn’t move up in a straight line this week. The stock dropped Tuesday and Wednesday, according to Investing.com daily prices and FTSE 100 data from Investors’ Chronicle, but then bounced back with a 5.1% rise in the last two sessions.
| Day | SSE close | SSE move | FTSE 100 close | FTSE 100 move |
|---|---|---|---|---|
| Jun. 29 | 2,459p | up 1.57% | 10,484.22 | down 0.23% |
| Jun. 30 | 2,436p | down 0.94% | 10,497.12 | up 0.12% |
| Jul. 1 | 2,386p | down 2.05% | 10,478.34 | down 0.18% |
| Jul. 2 | 2,460p | up 3.10% | 10,652.87 | up 1.67% |
| Jul. 3 | 2,507p | up 1.91% | 10,679.03 | up 0.25% |
| Week from Jun. 26 close | 2,421p to 2,507p | up 3.55% | 10,508.02 to 10,679.03 | up 1.63% |
Friday was slower. Only 2.06 million SSE shares switched hands, AJ Bell data show, with market cap at £30.24 billion. The stock’s dividend yield was 2.74% and P/E 22.27. That’s down from Thursday, when SSE jumped 3.10% on 7.29 million shares traded.
Investors are watching capex scale more than Friday’s price move. SSEN Transmission, which SSE owns 75%, said the National Energy System Operator’s “Beyond 2030 Update” pointed to possible north Scotland upgrades valued at over £12 billion gross. SSE’s May results showed a funded investment plan through 2030 at £33 billion. Guidance is for capex above £5 billion in 2026/27. Investegate
| Measure | Amount | Comparison with £30.24 bln market cap |
|---|---|---|
| SSE market cap at Friday’s close | £30.24 bln | Base |
| Investment plan fully funded through 2030 | £33 bln | 109% |
| Potential new SSEN Transmission work in north Scotland, total | >£12 bln | >40% |
| Possible share at SSE’s 75% stake, rough estimate | >£9 bln | >30% |
| Capex guidance for 2026/27 | >£5 bln | >17% |
This is why the July 16 update matters. Gross network investment is different from profit. SSEN said these projects still have to go through consultation, get the right regulatory framework, be confirmed with SSEN Transmission as the delivery body, and secure planning and regulatory sign-off.
SSE’s latest yearly figures show more spending. Adjusted investment and capex climbed 23% to £3.59 billion for the year ending March 2026, with 72% going to regulated electricity networks. The regulated asset value of its electricity networks came in at £15.6 billion, up from £12.9 billion. Adjusted EPS dropped 5% to 153.5p. The full-year dividend increased 7% to 68.7p.
| Metric | Mar. 2026 | Mar. 2025 | Change |
|---|---|---|---|
| Adjusted EPS | 153.5p | 161.3p | -5% |
| Full-year dividend | 68.7p | 64.2p | +7% |
| Adjusted investment and capex | £3.59 bln | £2.91 bln | +23% |
| SSEN Transmission RAV | £9.0 bln | £7.2 bln | +25% |
| SSEN Distribution RAV | £6.6 bln | £5.7 bln | +16% |
| Total electricity networks RAV | £15.6 bln | £12.9 bln | +21% |
SSE CEO Martin Pibworth said in May the group hit all its financial and operational targets, calling the £33 billion plan “central to long-term value creation.” That’s the company’s pitch for why investors shouldn’t focus on a rough year for adjusted EPS. Investegate
SSE’s share count is key here. The company told investors on July 1 it has 1.212 billion voting rights after accounting for treasury shares. Its EPS target for 2026/27, between 168p and 193p, is already set to reflect the new equity and higher share count. So the next update will focus on per-share delivery and project spending.
Sell-side targets narrowed after shares rebounded for two days. Investing.com showed 14 analysts on Buy consensus, with 10 at Buy, three at Hold, and one at Sell. The average 12-month target came in at 2,728.86p, or 8.85% up from Friday’s close. At Wednesday’s close of 2,386p, that same target was about 14.4% higher.
SSE’s calendar puts the AGM and Q1 trading statement on July 16. The stock goes ex-dividend July 23, with July 24 as the record date. Scrip reference price hits July 30, and payment is set for Sept. 17.
