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.

Analysts Set New Price Targets

DRX has been the subject of a number of recent research reports. Canaccord Genuity Group initiated coverage on shares of Drax Group in a research note on Tuesday, June 7th. They set a "buy" rating and a GBX 135 ($1.63) price target for the company. Barclays restated an "overweight" rating and issued a GBX 1,170 ($14.14) target price on shares of Drax Group in a research note on Friday, May 27th. Morgan Stanley restated an "overweight" rating on shares of Drax Group in a research note on Wednesday, May 11th. Citigroup restated a "sell" rating and issued a GBX 591 ($7.14) target price on shares of Drax Group in a research note on Thursday, July 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Drax Group from GBX 975 ($11.78) to GBX 990 ($11.96) and gave the stock an "overweight" rating in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of GBX 831.83 ($10.05).

Drax Group Price Performance

Shares of LON:DRX traded down GBX 35 ($0.42) during midday trading on Thursday, hitting GBX 701 ($8.47). The company had a trading volume of 6,407,090 shares, compared to its average volume of 1,493,865. The company has a quick ratio of 0.32, a current ratio of 1.00 and a debt-to-equity ratio of 117.43. 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 business has a 50-day simple moving average of GBX 698.30 and a two-hundred day simple moving average of GBX 711.21. The firm has a market capitalization of £2.81 billion and a price-to-earnings ratio of 1,443.14.

Drax Group Cuts Dividend

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