Drax Group Plc’s “Outperform” Rating Reaffirmed at RBC Capital (DRX)
Drax Group Plc (LON:DRX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at RBC Capital in a research note issued to investors on Thursday, American Banking and Market News reports. They currently have a GBX 975 ($16.34) price target on the stock. RBC Capital’s price objective indicates a potential upside of 20.44% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Liberum Capital raised their price target on shares of Drax Group Plc from GBX 735 ($12.32) to GBX 820 ($13.74) in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs reiterated a “strong-buy” rating on shares of Drax Group Plc in a research note on Thursday. Finally, analysts at Barclays raised their price target on shares of Drax Group Plc from GBX 915 ($15.33) to GBX 950 ($15.92) in a research note on Wednesday. They now have an “overweight” rating on the stock. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of GBX 840.47 ($14.09).
Shares of Drax Group Plc (LON:DRX) opened at 810.4999 on Thursday. Drax Group Plc has a 52 week low of GBX 527.50 and a 52 week high of GBX 829.50. The stock has a 50-day moving average of GBX 804. and a 200-day moving average of GBX 722.1. The company’s market cap is £3.258 billion.
The company also recently announced a dividend, which is scheduled for Friday, May 16th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of GBX 8.90 ($0.15) per share. This represents a dividend yield of 1.11%. The ex-dividend date is Wednesday, April 23rd.
Drax Group plc is the holding company of the Drax group of companies. The Company is engaged in the generation and sale of electricity and by-products of the electricity generation process at Drax Power Station, Selby, North Yorkshire and the sale of electricity to business customers by Haven Power Limited (LON:DRX).
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