Barclays reiterated their overweight rating on shares of Drax Group (LON:DRX – Get Rating) in a report published on Friday morning, Marketbeat reports. They currently have a GBX 1,100 ($13.25) price objective on the stock.
Other analysts also recently issued research reports about the company. Citigroup restated a neutral rating and issued a GBX 598 ($7.20) target price on shares of Drax Group in a research note on Friday, November 18th. Royal Bank of Canada lowered their target price on Drax Group from GBX 1,175 ($14.15) to GBX 950 ($11.44) and set an outperform rating on the stock in a research note on Tuesday, November 15th. Credit Suisse Group lowered their price target on Drax Group from GBX 700 ($8.43) to GBX 625 ($7.53) and set a neutral rating on the stock in a research report on Thursday, February 16th. Finally, JPMorgan Chase & Co. increased their price target on Drax Group from GBX 850 ($10.24) to GBX 900 ($10.84) and gave the stock an overweight rating in a research report on Tuesday, February 14th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of GBX 748.29 ($9.01).
Drax Group Stock Down 1.0 %
Shares of DRX opened at GBX 642.50 ($7.74) on Friday. Drax Group has a 52 week low of GBX 467.20 ($5.63) and a 52 week high of GBX 845.89 ($10.19). The company has a quick ratio of 0.32, a current ratio of 1.00 and a debt-to-equity ratio of 117.43. The company has a market capitalization of £2.58 billion, a price-to-earnings ratio of 1,259.80, a PEG ratio of 0.10 and a beta of 1.05. The stock’s 50-day moving average price is GBX 661.14 and its 200-day moving average price is GBX 632.96.
Drax Group Increases Dividend
The firm also recently declared a dividend, which will be paid on Friday, May 19th. Shareholders of record on Thursday, April 20th will be paid a GBX 12.60 ($0.15) dividend. The ex-dividend date is Thursday, April 20th. This is a boost from Drax Group’s previous dividend of $8.40. This represents a yield of 1.87%. Drax Group’s dividend payout ratio (DPR) is currently 3,921.57%.
Insider Buying and Selling at Drax Group
In other news, insider Andy Skelton bought 6,244 shares of the business’s stock in a transaction dated Thursday, February 23rd. The shares were acquired at an average price of GBX 637 ($7.67) per share, for a total transaction of £39,774.28 ($47,897.74). 0.32% of the stock is owned by insiders.
About Drax Group
Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. The company operates through three segments: Generation, Customers, and Pellet Production. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.
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