Drax Group (LON:DRX) Shares Cross Above 200-Day Moving Average of $461.62

Drax Group plc (LON:DRX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 461.62 ($5.84) and traded as high as GBX 517.50 ($6.55). Drax Group shares last traded at GBX 510.50 ($6.46), with a volume of 1,111,353 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DRX. Citigroup restated a “sell” rating and issued a GBX 434 ($5.49) target price on shares of Drax Group in a report on Wednesday, April 3rd. Royal Bank of Canada dropped their target price on Drax Group from GBX 1,200 ($15.19) to GBX 1,100 ($13.92) and set an “outperform” rating on the stock in a report on Wednesday, February 21st.

Drax Group Stock Up 2.7 %

The company has a debt-to-equity ratio of 78.72, a current ratio of 1.12 and a quick ratio of 0.32. The stock has a fifty day moving average price of GBX 468.28 and a two-hundred day moving average price of GBX 461.77. The company has a market cap of £1.98 billion, a P/E ratio of 367.27, a price-to-earnings-growth ratio of 0.10 and a beta of 1.14.

Drax Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, April 18th will be issued a dividend of GBX 13.90 ($0.18) per share. This is a positive change from Drax Group’s previous dividend of $9.20. This represents a yield of 3.32%. The ex-dividend date is Thursday, April 18th. Drax Group’s dividend payout ratio (DPR) is 1,654.68%.

Insider Buying and Selling

In related news, insider Andy Skelton sold 15,869 shares of Drax Group stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of GBX 489 ($6.19), for a total transaction of £77,599.41 ($98,214.67). 0.59% of the stock is currently owned by corporate insiders.

About Drax Group

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.