Shares of Drax Group plc (LON:DRX - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 535.02 ($7.04) and traded as high as GBX 650 ($8.55). Drax Group shares last traded at GBX 648.50 ($8.53), with a volume of 801,805 shares traded.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on DRX shares. Jefferies Financial Group upped their target price on Drax Group from GBX 600 ($7.89) to GBX 750 ($9.86) and gave the company a "buy" rating in a report on Monday, July 29th. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of Drax Group in a report on Friday, July 5th.
Read Our Latest Stock Report on Drax Group
Drax Group Trading Up 0.4 %
The company's 50 day simple moving average is GBX 604.90 and its 200-day simple moving average is GBX 535.84. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 63.77. The firm has a market cap of £2.51 billion, a P/E ratio of 392.17, a P/E/G ratio of 0.10 and a beta of 1.25.
Drax Group Cuts Dividend
The business also recently declared a dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 19th will be paid a dividend of GBX 10.40 ($0.14) per share. This represents a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 19th. Drax Group's dividend payout ratio is presently 1,445.78%.
Insider Buying and Selling
In other news, insider Rob Shuter purchased 80,000 shares of the business's stock in a transaction on Wednesday, July 31st. The shares were acquired at an average cost of GBX 646 ($8.49) per share, with a total value of £516,800 ($679,552.93). 0.66% of the stock is currently owned by insiders.
Drax Group Company Profile
(
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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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