Drax Group (LON:DRX) Stock Passes Above 200-Day Moving Average of $468.45

Drax Group plc (LON:DRX)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 468.45 ($5.88) and traded as high as GBX 527 ($6.62). Drax Group shares last traded at GBX 518 ($6.51), with a volume of 1,003,555 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank of Canada dropped their price target on Drax Group from GBX 1,200 ($15.07) to GBX 1,100 ($13.82) and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Citigroup restated a “sell” rating and set a GBX 434 ($5.45) price target on shares of Drax Group in a research note on Wednesday, April 3rd.

Drax Group Trading Down 1.5 %

The company has a quick ratio of 0.32, a current ratio of 1.12 and a debt-to-equity ratio of 78.72. The firm has a market cap of £2.00 billion, a price-to-earnings ratio of 372.66, a price-to-earnings-growth ratio of 0.10 and a beta of 1.16. The business has a 50 day moving average price of GBX 481.24 and a 200-day moving average price of GBX 468.45.

Drax Group Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 17th. Stockholders of record on Thursday, April 18th will be paid a GBX 13.90 ($0.17) dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a dividend yield of 3.32%. This is a positive change from Drax Group’s previous dividend of $9.20. Drax Group’s dividend payout ratio (DPR) is 1,654.68%.

Insider Activity

In other news, insider Andy Skelton sold 15,869 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of GBX 489 ($6.14), for a total value of £77,599.41 ($97,474.45). Insiders own 0.68% of the company’s stock.

Drax Group Company Profile

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.