Drax Group plc (LON:DRX – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 550.80 ($7.28) and traded as high as GBX 625.50 ($8.26). Drax Group shares last traded at GBX 620.50 ($8.20), with a volume of 1,411,103 shares.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Drax Group in a research report on Friday, July 5th. Jefferies Financial Group lifted their price objective on Drax Group from GBX 600 ($7.93) to GBX 750 ($9.91) and gave the company a “buy” rating in a research report on Monday, July 29th.
Get Our Latest Analysis on DRX
Drax Group Stock Performance
Drax Group Cuts Dividend
The firm also recently disclosed a dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 19th will be given a GBX 10.40 ($0.14) dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a dividend yield of 1.84%. Drax Group’s payout ratio is 1,445.78%.
Insider Transactions at Drax Group
In other Drax Group news, insider Rob Shuter bought 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of GBX 646 ($8.53) per share, with a total value of £516,800 ($682,694.85). Corporate insiders own 0.67% of the company’s stock.
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.
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