Drax Group (LON:DRX) Stock Crosses Above 200-Day Moving Average of $465.07

Shares of Drax Group plc (LON:DRX) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DRX shares. Citigroup reiterated a “sell” rating and set a GBX 434 ($5.36) price objective on shares of Drax Group in a research report on Wednesday, April 3rd. Royal Bank of Canada lowered their price objective on shares of 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.

Drax Group Stock Up 1.1 %

The stock has a market cap of £1.99 billion, a P/E ratio of 369.42, a price-to-earnings-growth ratio of 0.10 and a beta of 1.14. The company’s fifty day moving average price is GBX 474.21 and its 200-day moving average price is GBX 465.73. 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 business also recently declared a dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, April 18th will be paid a GBX 13.90 ($0.17) dividend. This represents a yield of 3.32%. The ex-dividend date of this dividend is Thursday, April 18th. This is an increase from Drax Group’s previous dividend of $9.20. Drax Group’s dividend payout ratio (DPR) 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 dated Wednesday, April 3rd. The shares were 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 currently owned by insiders.

Drax Group Company Profile

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.