Drax Group Plc (LON:DRX) has been assigned a consensus rating of “Buy” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is GBX 373.33 ($4.86).
Several equities analysts have issued reports on DRX shares. AlphaValue raised Drax Group to an “add” rating in a report on Thursday, July 26th. Royal Bank of Canada raised Drax Group to a “top pick” rating in a report on Monday, July 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a GBX 380 ($4.95) price objective on shares of Drax Group in a report on Monday, September 10th. HSBC raised their price target on Drax Group from GBX 290 ($3.78) to GBX 420 ($5.47) and gave the stock a “hold” rating in a report on Thursday, September 6th. Finally, Credit Suisse Group raised their price target on Drax Group from GBX 350 ($4.56) to GBX 410 ($5.34) and gave the stock an “outperform” rating in a report on Thursday, July 26th.
Drax Group stock traded down GBX 2.40 ($0.03) during midday trading on Wednesday, reaching GBX 373.60 ($4.87). The company’s stock had a trading volume of 754,789 shares, compared to its average volume of 1,090,000. Drax Group has a fifty-two week low of GBX 218 ($2.84) and a fifty-two week high of GBX 368.70 ($4.80).
The business also recently declared a dividend, which will be paid on Friday, October 12th. Investors of record on Thursday, September 20th will be issued a dividend of GBX 5.60 ($0.07) per share. This represents a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, September 20th.
Drax Group Company Profile
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. It operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. The company owns and operates Drax Power Station that produces electricity from biomass located in Selby, North Yorkshire; and develops open-cycle gas turbine projects.
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