Drax Group Plc’s (DRX) “Neutral” Rating Reiterated at JPMorgan Chase & Co.
JPMorgan Chase & Co. restated their neutral rating on shares of Drax Group Plc (LON:DRX) in a report published on Thursday. JPMorgan Chase & Co. currently has a GBX 370 ($4.83) target price on the stock.
Several other equities analysts have also issued reports on the company. HSBC raised Drax Group Plc to a hold rating in a research note on Friday, August 12th. Deutsche Bank AG upped their price target on Drax Group Plc from GBX 250 ($3.26) to GBX 300 ($3.92) and gave the company a hold rating in a research note on Wednesday, July 27th. Citigroup Inc. raised Drax Group Plc to a neutral rating and set a GBX 305 ($3.98) price target on the stock in a research note on Wednesday, August 24th. Macquarie upped their price target on Drax Group Plc from GBX 200 ($2.61) to GBX 313 ($4.09) and gave the company a neutral rating in a research note on Monday, June 13th. Finally, BNP Paribas lowered Drax Group Plc to a neutral rating and set a GBX 340 ($4.44) price target on the stock. in a research note on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Drax Group Plc presently has an average rating of Hold and a consensus price target of GBX 280.69 ($3.66).
Drax Group Plc (LON:DRX) opened at 316.50 on Thursday. The company has a 50-day moving average price of GBX 312.52 and a 200-day moving average price of GBX 308.12. Drax Group Plc has a 52 week low of GBX 205.10 and a 52 week high of GBX 363.90. The stock’s market cap is GBX 1.29 billion.
The company also recently declared a dividend, which will be paid on Friday, October 7th. Investors of record on Thursday, September 22nd will be issued a dividend of GBX 2.10 ($0.03) per share. This is a boost from Drax Group Plc’s previous dividend of $0.60. This represents a yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 22nd.
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 operates through three segments: 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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