Drax Group (LON:DRX) Share Price Passes Above 200-Day Moving Average of $465.07

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 GBX 465.07 ($5.74) and traded as high as GBX 495.80 ($6.12). Drax Group shares last traded at GBX 494.60 ($6.11), with a volume of 661,379 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DRX shares. Royal Bank of Canada dropped their price objective on Drax Group from GBX 1,200 ($14.82) to GBX 1,100 ($13.59) and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Citigroup restated a “sell” rating and issued a GBX 434 ($5.36) price target on shares of Drax Group in a report on Wednesday, April 3rd.

Drax Group Stock Up 1.0 %

The company has a debt-to-equity ratio of 78.72, a quick ratio of 0.32 and a current ratio of 1.12. The company has a market cap of £1.93 billion, a PE ratio of 355.83, a PEG ratio of 0.10 and a beta of 1.14. The firm has a fifty day simple moving average of GBX 472.73 and a 200 day simple moving average of GBX 465.07.

Drax Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 17th. Shareholders of record on Thursday, April 18th will be issued a GBX 13.90 ($0.17) dividend. This is a boost from Drax Group’s previous dividend of $9.20. The ex-dividend date is Thursday, April 18th. This represents a yield of 3.32%. Drax Group’s payout ratio is 1,654.68%.

Insider Buying and Selling at Drax Group

In other Drax Group news, insider Andy Skelton sold 15,869 shares of Drax Group stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of GBX 489 ($6.04), for a total value of £77,599.41 ($95,849.07). 0.59% of the stock is owned by company insiders.

About Drax Group

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.