Drax Group - DRX Share Forecast, Price & News

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. The company operates through three segments: Generation, Customers, and Pellet Production. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid. The Customers segment offers non-generation system support and energy management services. The Pellet Production segment provides low carbon fuel. The company owns and operates Drax Power Station with an installed capacity of 2,000 megawatts (MW) located in Selby, North Yorkshire; Cruachan Power Station, a pumped hydro storage station, with an installed capacity of 440 MW located in Argyll and Bute, and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland. In addition, the company owns and operates Daldowie fuel plant that processes sludge, a plant that converts it into dry low-odour fuel pellets. Further, it manufactures and sells compressed wood pellets; and supplies renewable electricity. Drax Group plc was incorporated in 2005 and is based in Selby, the United Kingdom.

Drax Group Trading Up 3.2 %

Shares of LON:DRX traded up GBX 22.50 ($0.27) during midday trading on Friday, hitting GBX 723.50 ($8.74). 834,825 shares of the company traded hands, compared to its average volume of 1,494,938. Drax Group has a 12-month low of GBX 401.80 ($4.86) and a 12-month high of GBX 845.89 ($10.22). The company has a debt-to-equity ratio of 117.43, a quick ratio of 0.32 and a current ratio of 1.00. The stock has a 50-day moving average price of GBX 699.07 and a 200 day moving average price of GBX 713.92. The firm has a market cap of £2.90 billion and a P/E ratio of 1,418.63.

Drax Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, October 7th. Investors of record on Thursday, August 25th will be given a dividend of GBX 8.40 ($0.10) per share. This represents a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, August 25th. Drax Group's dividend payout ratio is currently 36.86%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DRX. Canaccord Genuity Group began coverage on shares of Drax Group in a research note on Tuesday, June 7th. They issued a "buy" rating and a GBX 135 ($1.63) price target for the company. Barclays reaffirmed an "overweight" rating and set a GBX 1,170 ($14.14) price objective on shares of Drax Group in a research note on Friday, May 27th. Morgan Stanley reaffirmed an "overweight" rating on shares of Drax Group in a research note on Wednesday, May 11th. Royal Bank of Canada upped their price objective on shares of Drax Group from GBX 1,150 ($13.90) to GBX 1,175 ($14.20) and gave the company an "outperform" rating in a research note on Thursday, July 7th. Finally, Citigroup reaffirmed a "sell" rating and set a GBX 616 ($7.44) price objective on shares of Drax Group in a research note on Friday. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Drax Group currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 836 ($10.10).