Will Gardiner Sells 114,917 Shares of Drax Group plc (LON:DRX) Stock

Drax Group plc (LON:DRX) insider Will Gardiner sold 114,917 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of GBX 574 ($7.44), for a total value of £659,623.58 ($855,321.03).

Drax Group Stock Up 0.3 %

Drax Group stock opened at GBX 581 ($7.53) on Friday. The stock’s 50 day moving average price is GBX 612.03 and its 200 day moving average price is GBX 632.83. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. The company has a market cap of £2.13 billion, a PE ratio of 3.45, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. Drax Group plc has a 1-year low of GBX 470.80 ($6.10) and a 1-year high of GBX 692 ($8.97).

Drax Group (LON:DRX) last posted its earnings results on Thursday, February 27th. The company reported GBX 128.40 ($1.66) EPS for the quarter. Drax Group had a return on equity of 31.63% and a net margin of 9.42%. On average, sell-side analysts predict that Drax Group plc will post 97.4732006 EPS for the current fiscal year.

Drax Group Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, May 16th. Stockholders of record on Thursday, April 24th will be issued a GBX 15.60 ($0.20) dividend. This represents a dividend yield of 2.7%. This is a boost from Drax Group’s previous dividend of $10.40. The ex-dividend date is Thursday, April 24th. Drax Group’s payout ratio is 14.24%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DRX. JPMorgan Chase & Co. boosted their target price on Drax Group from GBX 850 ($11.02) to GBX 900 ($11.67) and gave the company an “overweight” rating in a report on Tuesday, February 11th. Citigroup restated a “sell” rating and issued a GBX 529 ($6.86) price target on shares of Drax Group in a research note on Tuesday, February 11th.

About Drax Group

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.