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.

Wall Street Analyst Weigh In

DRX has been the subject of a number of analyst reports. Citigroup restated a "sell" rating and issued a GBX 616 ($7.44) price target on shares of Drax Group in a research report on Friday, August 12th. Barclays reaffirmed an "overweight" rating and set a GBX 1,170 ($14.14) price target on shares of Drax Group in a report on Friday, May 27th. Canaccord Genuity Group assumed 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 objective for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Drax Group in a report on Wednesday, May 11th. Finally, Royal Bank of Canada upped their price objective on Drax Group from GBX 1,150 ($13.90) to GBX 1,175 ($14.20) and gave the stock an "outperform" rating in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 836 ($10.10).

Drax Group Trading Down 0.9 %

Shares of Drax Group stock opened at GBX 723 ($8.74) on Friday. Drax Group has a twelve month low of GBX 401.80 ($4.86) and a twelve month high of GBX 845.89 ($10.22). The company has a quick ratio of 0.32, a current ratio of 1.00 and a debt-to-equity ratio of 117.43. The business has a 50-day moving average price of GBX 701.93 and a 200-day moving average price of GBX 716.94. The firm has a market cap of £2.90 billion and a price-to-earnings ratio of 1,430.39.

Drax Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, August 25th will be paid a GBX 8.40 ($0.10) dividend. This represents a yield of 1.11%. The ex-dividend date is Thursday, August 25th. Drax Group's payout ratio is 36.86%.