Drax Group (LON:DRX) Shares Cross Above 200 Day Moving Average of $473.47

Shares of Drax Group plc (LON:DRX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 473.47 ($5.95) and traded as high as GBX 549 ($6.90). Drax Group shares last traded at GBX 545.50 ($6.85), with a volume of 1,049,999 shares traded.

Wall Street Analysts Forecast Growth

DRX has been the topic of a number of analyst reports. Citigroup restated a “sell” rating and issued a GBX 434 ($5.45) price target on shares of Drax Group in a research note on Wednesday, April 3rd. Royal Bank of Canada lowered their price target on shares of Drax Group from GBX 1,200 ($15.08) to GBX 1,100 ($13.82) and set an “outperform” rating on the stock in a research note on Wednesday, February 21st.

Drax Group Trading Down 0.3 %

The stock has a market cap of £2.10 billion, a price-to-earnings ratio of 392.45, a PEG ratio of 0.10 and a beta of 1.16. The business has a fifty day simple moving average of GBX 496.39 and a 200 day simple moving average of GBX 473.47. The company has a debt-to-equity ratio of 78.72, a quick ratio of 0.32 and a current ratio of 1.12.

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 paid a dividend of GBX 13.90 ($0.17) per share. This represents a dividend yield of 3.32%. The ex-dividend date is Thursday, April 18th. This is a positive change from Drax Group’s previous dividend of $9.20. Drax Group’s dividend payout ratio is currently 1,654.68%.

Insider Buying and Selling

In related news, insider Andy Skelton sold 15,869 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of GBX 489 ($6.14), for a total value of £77,599.41 ($97,486.70). 0.68% of the stock is currently 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.