Drax Group Plc (DRX) Receives Average Rating of “Buy” from Analysts

Drax Group Plc (LON:DRX) has been given an average rating of “Buy” by the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is GBX 385 ($5.01).

A number of equities analysts recently issued reports on DRX shares. Barclays PLC raised shares of Drax Group Plc to an “overweight” rating and boosted their target price for the stock from GBX 400 ($5.21) to GBX 410 ($5.34) in a research report on Friday, April 28th. Jefferies Group LLC raised shares of Drax Group Plc to a “buy” rating and boosted their target price for the stock from GBX 305 ($3.97) to GBX 400 ($5.21) in a research report on Tuesday, May 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a GBX 310 ($4.04) target price on shares of Drax Group Plc in a research report on Monday, June 12th. Citigroup Inc. reaffirmed a “buy” rating and set a GBX 391 ($5.09) target price on shares of Drax Group Plc in a research report on Tuesday, June 13th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a GBX 410 ($5.34) target price on shares of Drax Group Plc in a research report on Friday, June 16th.

Drax Group Plc (DRX) opened at 321.80 on Tuesday. The stock has a 50 day moving average of GBX 330.01 and a 200-day moving average of GBX 337.87. Drax Group Plc has a 52-week low of GBX 273.10 and a 52-week high of GBX 393.20. The company’s market capitalization is GBX 1.31 billion.

The company also recently announced a dividend, which will be paid on Friday, October 6th. Stockholders of record on Thursday, September 21st will be paid a GBX 4.90 ($0.06) dividend. This represents a dividend yield of 1.47%. The ex-dividend date is Thursday, September 21st. This is an increase from Drax Group Plc’s previous dividend of $0.40.

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About Drax Group Plc

Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company’s segments include Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.

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