Drax Group Plc (LON:DRX) declared a dividend on Wednesday, July 29th, Upcoming.Co.Uk reports. Investors of record on Thursday, August 20th will be paid a dividend of GBX 6.80 ($0.08) per share on Friday, October 2nd. This represents a yield of 2.47%. The ex-dividend date is Thursday, August 20th. The official announcement can be accessed at this link.
Shares of LON DRX opened at GBX 275.80 ($3.39) on Thursday. Drax Group has a twelve month low of GBX 2.52 ($0.03) and a twelve month high of GBX 364.60 ($4.49). The firm has a fifty day simple moving average of GBX 249.01 and a 200 day simple moving average of GBX 235.63. The company has a market capitalization of $1.09 billion and a PE ratio of 2,758.00. The company has a quick ratio of 0.73, a current ratio of 1.28 and a debt-to-equity ratio of 74.48.
A number of equities analysts recently weighed in on DRX shares. JPMorgan Chase & Co. lowered their target price on shares of Drax Group from GBX 400 ($4.92) to GBX 360 ($4.43) and set an “overweight” rating for the company in a research note on Thursday, May 14th. HSBC lowered their target price on shares of Drax Group from GBX 375 ($4.61) to GBX 310 ($3.81) and set a “buy” rating for the company in a research note on Thursday, April 23rd. Credit Suisse Group raised shares of Drax Group to an “outperform” rating and decreased their price target for the company from GBX 325 ($4.00) to GBX 305 ($3.75) in a research note on Thursday, May 21st. Barclays lifted their price target on shares of Drax Group from GBX 375 ($4.61) to GBX 400 ($4.92) and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Royal Bank of Canada lifted their price target on shares of Drax Group from GBX 330 ($4.06) to GBX 340 ($4.18) and gave the company an “outperform” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Drax Group has an average rating of “Buy” and an average price target of GBX 334.17 ($4.11).
In other Drax Group news, insider Andy Skelton acquired 60,902 shares of Drax Group stock in a transaction dated Wednesday, July 29th. The stock was purchased at an average cost of GBX 272 ($3.35) per share, for a total transaction of £165,653.44 ($203,856.07). Also, insider Will Gardiner sold 20,798 shares of Drax Group stock in a transaction dated Friday, May 15th. The shares were sold at an average price of GBX 195 ($2.40), for a total transaction of £40,556.10 ($49,909.06).
Drax Group Company Profile
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity. The company operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. It produces low carbon and renewable electricity; and provides system support services to the grid from a portfolio of biomass, hydro, gas, and coal technologies.
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