Drax Group plc (LON:DRX) Insider Will Gardiner Sells 114,917 Shares

Drax Group plc (LON:DRX) insider Will Gardiner sold 114,917 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of GBX 574 ($7.47), for a total transaction of £659,623.58 ($858,102.74).

Drax Group Stock Performance

LON:DRX opened at GBX 579.50 ($7.54) on Thursday. Drax Group plc has a fifty-two week low of GBX 469.50 ($6.11) and a fifty-two week high of GBX 692 ($9.00). The firm’s 50 day moving average is GBX 612.99 and its two-hundred day moving average is GBX 633.33. The company has a market cap of £2.13 billion, a P/E ratio of 3.44, a P/E/G ratio of 0.10 and a beta of 1.22. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11.

Drax Group (LON:DRX) last issued its earnings results on Thursday, February 27th. The company reported GBX 128.40 ($1.67) earnings per share for the quarter. Drax Group had a return on equity of 31.63% and a net margin of 9.42%. Analysts expect that Drax Group plc will post 97.4732006 EPS for the current year.

Drax Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 16th. Investors of record on Thursday, April 24th will be given a dividend of GBX 15.60 ($0.20) per share. This represents a yield of 2.7%. The ex-dividend date is Thursday, April 24th. This is an increase from Drax Group’s previous dividend of $10.40. Drax Group’s dividend payout ratio is 14.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DRX shares. JPMorgan Chase & Co. raised their price objective on Drax Group from GBX 850 ($11.06) to GBX 900 ($11.71) and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Citigroup reissued a “sell” rating and issued a GBX 529 ($6.88) price target on shares of Drax Group in a research note on Tuesday, February 11th.

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.