Drax Group plc (LON:DRX) Insider Acquires £516,800 in Stock

Posted by Frank Smitson on Aug 5th, 2024

Drax Group plc (LON:DRX – Get Free Report) insider Rob Shuter bought 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of GBX 646 ($8.31) per share, with a total value of £516,800 ($664,780.04).

Drax Group Trading Down 0.4 %

DRX stock opened at GBX 642 ($8.26) on Monday. The company has a debt-to-equity ratio of 78.72, a current ratio of 1.12 and a quick ratio of 0.32. The company has a fifty day moving average price of GBX 537.49 and a two-hundred day moving average price of GBX 507.23. Drax Group plc has a one year low of GBX 395.20 ($5.08) and a one year high of GBX 666.50 ($8.57). The stock has a market cap of £2.48 billion, a price-to-earnings ratio of 461.87, a price-to-earnings-growth ratio of 0.10 and a beta of 1.15.

Drax Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 19th will be issued a dividend of GBX 10.40 ($0.13) per share. This represents a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 19th. Drax Group’s dividend payout ratio is currently 1,654.68%.

Analysts Set New Price Targets

Several research firms recently weighed in on DRX. Jefferies Financial Group raised their target price on shares of Drax Group from GBX 600 ($7.72) to GBX 750 ($9.65) and gave the company a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Drax Group in a research report on Friday, July 5th.

Check Out Our Latest Research Report on Drax Group

Drax Group Company Profile

(Get Free Report)

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.