Drax Group (LON:DRX) Reaches New 52-Week High at $674.50

Shares of Drax Group plc (LON:DRX - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 674.50 ($8.89) and last traded at GBX 665 ($8.77), with a volume of 858477 shares traded. The stock had previously closed at GBX 658.50 ($8.68).

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on Drax Group from GBX 600 ($7.91) to GBX 750 ($9.89) and gave the company a "buy" rating in a research report on Monday, July 29th. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Drax Group in a report on Friday, July 5th.

Drax Group Stock Performance

The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 63.77. The firm has a market capitalization of £2.56 billion, a price-to-earnings ratio of 405.72, a PEG ratio of 0.10 and a beta of 1.25. The stock has a fifty day moving average price of GBX 582.47 and a 200-day moving average price of GBX 524.70.

Drax Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 19th will be paid a dividend of GBX 10.40 ($0.14) per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a yield of 1.84%. Drax Group's dividend payout ratio is currently 1,445.78%.

Insider Buying and Selling at Drax Group

In other news, insider Rob Shuter purchased 80,000 shares of Drax Group stock in a transaction on Wednesday, July 31st. The shares were purchased at an average cost of GBX 646 ($8.52) per share, for a total transaction of £516,800 ($681,524.46). Company insiders own 0.66% 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.

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