Drax Group Plc Receives “Conviction-Buy” Rating from Goldman Sachs (DRX)
Drax Group Plc (LON:DRX)‘s stock had its “conviction-buy” rating reiterated by equities research analysts at Goldman Sachs in a research note issued to investors on Thursday, StockRatingsNetwork.com reports.
A number of other firms have also recently commented on DRX. 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. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Drax Group Plc in a research note on Wednesday. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Drax Group Plc in a research note on Wednesday. They now have a GBX 850 ($14.25) price target on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of GBX 840.47 ($14.09).
Shares of Drax Group Plc (LON:DRX) traded up 0.12% during mid-day trading on Thursday, hitting GBX 810.9999. 673,831 shares of the company’s stock traded hands. Drax Group Plc has a one year low of GBX 527.50 and a one year high of GBX 829.50. The stock has a 50-day moving average of GBX 804.5 and a 200-day moving average of GBX 723.3. The company’s market cap is £3.260 billion.
The company also recently declared a dividend, which is scheduled for Friday, May 16th. Investors of record on Wednesday, April 23rd will be given a dividend of GBX 8.90 ($0.15) per share. This represents a 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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