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

Drax Group plc (LON:DRX – Get 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

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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.