Drax Group (LON:DRX) Stock Passes Above Two Hundred Day Moving Average of $313.46

Drax Group Plc (LON:DRX)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $313.46 and traded as high as $278.60. Drax Group shares last traded at $276.20, with a volume of 594,410 shares traded.

Several brokerages recently issued reports on DRX. Royal Bank of Canada decreased their price target on Drax Group from GBX 460 ($6.01) to GBX 420 ($5.49) and set a “top pick” rating for the company in a report on Thursday, July 25th. Deutsche Bank reiterated a “hold” rating on shares of Drax Group in a report on Friday, July 26th. JPMorgan Chase & Co. decreased their price target on Drax Group from GBX 450 ($5.88) to GBX 400 ($5.23) and set an “overweight” rating for the company in a report on Wednesday, July 3rd. Credit Suisse Group upgraded Drax Group to a “neutral” rating and decreased their price target for the stock from GBX 325 ($4.25) to GBX 295 ($3.85) in a report on Tuesday, July 9th. Finally, Macquarie began coverage on Drax Group in a report on Monday, June 17th. They set a “neutral” rating and a GBX 280 ($3.66) price target for the company. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Drax Group has an average rating of “Hold” and a consensus price target of GBX 341.13 ($4.46).

The company has a current ratio of 1.30, a quick ratio of 0.55 and a debt-to-equity ratio of 64.30. The business has a 50-day moving average price of GBX 279.33 and a 200 day moving average price of GBX 313.46. The stock has a market cap of $1.09 billion and a PE ratio of 39.46.

The company also recently declared a dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 19th will be given a dividend of GBX 6.40 ($0.08) per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a dividend yield of 2.16%. Drax Group’s dividend payout ratio is presently 2.14%.

In other news, insider Andy Skelton purchased 16,250 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average price of GBX 298 ($3.89) per share, with a total value of £48,425 ($63,275.84).

About Drax Group (LON:DRX)

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity. The company operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. It produces low carbon and renewable electricity; and provides system support services to the grid from a portfolio of biomass, hydro, gas, and coal technologies.

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