Drax Group (LON:DRX) Share Price Passes Above 200 Day Moving Average of $625.54

Drax Group plc (LON:DRXGet Rating) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 625.54 ($7.62) and traded as high as GBX 655.50 ($7.99). Drax Group shares last traded at GBX 645.50 ($7.87), with a volume of 1,329,830 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on DRX. Citigroup reissued a “neutral” rating and set a GBX 598 ($7.29) target price on shares of Drax Group in a report on Friday, November 18th. JPMorgan Chase & Co. upped their price target on Drax Group from GBX 850 ($10.36) to GBX 900 ($10.97) and gave the company an “overweight” rating in a research report on Tuesday, February 14th. Barclays restated an “overweight” rating and issued a GBX 1,100 ($13.41) price target on shares of Drax Group in a research report on Friday, February 24th. Credit Suisse Group lowered their price objective on Drax Group from GBX 700 ($8.53) to GBX 625 ($7.62) and set a “neutral” rating for the company in a research report on Thursday, February 16th. Finally, Royal Bank of Canada lowered their price objective on Drax Group from GBX 1,175 ($14.32) to GBX 950 ($11.58) and set an “outperform” rating for the company in a research report on Tuesday, November 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 748.29 ($9.12).

Drax Group Price Performance

The company has a debt-to-equity ratio of 120.37, a current ratio of 1.07 and a quick ratio of 0.32. The stock has a 50-day moving average price of GBX 648.99 and a 200 day moving average price of GBX 625.54. The firm has a market cap of £2.59 billion, a price-to-earnings ratio of 3,073.81, a PEG ratio of 0.10 and a beta of 1.04.

Drax Group Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 19th. Shareholders of record on Thursday, April 20th will be issued a GBX 12.60 ($0.15) dividend. This represents a yield of 1.87%. The ex-dividend date of this dividend is Thursday, April 20th. This is a positive change from Drax Group’s previous dividend of $8.40. Drax Group’s payout ratio is currently 10,000.00%.

Insider Activity

In related news, insider Andy Skelton purchased 6,244 shares of Drax Group stock in a transaction dated Thursday, February 23rd. The stock was bought at an average cost of GBX 637 ($7.76) per share, for a total transaction of £39,774.28 ($48,475.66). Insiders own 0.33% of the company’s stock.

Drax Group Company Profile

(Get Rating)

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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