Drax Group Plc (DRX) Receives Consensus Rating of “Buy” from Analysts
Shares of Drax Group Plc (LON:DRX) have earned an average rating of “Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is GBX 391.25 ($5.06).
Several equities research analysts recently weighed in on the stock. Deutsche Bank AG reiterated a “hold” rating and issued a GBX 310 ($4.01) target price on shares of Drax Group Plc in a research note on Tuesday, July 18th. J P Morgan Chase & Co reduced their target price on shares of Drax Group Plc from GBX 400 ($5.17) to GBX 390 ($5.04) and set an “overweight” rating for the company in a research note on Monday, July 24th. Credit Suisse Group reiterated an “outperform” rating and issued a GBX 400 ($5.17) target price on shares of Drax Group Plc in a research note on Monday, June 19th. Barclays PLC increased their target price on shares of Drax Group Plc from GBX 410 ($5.30) to GBX 420 ($5.43) and gave the company an “overweight” rating in a research note on Monday, June 12th. Finally, BNP Paribas reiterated a “neutral” rating and issued a GBX 400 ($5.17) target price on shares of Drax Group Plc in a research note on Thursday, July 20th.
In other news, insider David Nussbaum acquired 7,500 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of GBX 315 ($4.07) per share, with a total value of £23,625 ($30,554.84).
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Shares of Drax Group Plc (LON:DRX) opened at 310.60 on Friday. The company has a 50-day moving average price of GBX 321.56 and a 200 day moving average price of GBX 330.70. The company’s market capitalization is GBX 1.26 billion. Drax Group Plc has a one year low of GBX 273.10 and a one year high of GBX 393.20.
The company also recently disclosed a dividend, which will be paid on Friday, October 6th. Stockholders of record on Thursday, September 21st will be issued a dividend of GBX 4.90 ($0.06) per share. This is a positive change from Drax Group Plc’s previous dividend of $0.40. The ex-dividend date is Thursday, September 21st. This represents a dividend yield of 1.47%.
About Drax Group Plc
Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company’s segments include Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.
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