Drax Group Plc’s (DRX) “Hold” Rating Reiterated at Deutsche Bank AG
Several other equities analysts also recently weighed in on the company. Royal Bank Of Canada upgraded Drax Group Plc to an outperform rating and lifted their target price for the company from GBX 340 ($4.41) to GBX 400 ($5.19) in a research report on Monday, July 24th. J P Morgan Chase & Co lowered their target price on Drax Group Plc from GBX 400 ($5.19) to GBX 390 ($5.06) and set an overweight rating on the stock in a research report on Monday, July 24th. Credit Suisse Group reiterated an outperform rating on shares of Drax Group Plc in a research report on Friday, July 21st. BNP Paribas reiterated a neutral rating and set a GBX 400 ($5.19) target price on shares of Drax Group Plc in a research report on Thursday, July 20th. Finally, Citigroup Inc. downgraded Drax Group Plc to a neutral rating and lowered their target price for the company from GBX 391 ($5.08) to GBX 365 ($4.74) in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Drax Group Plc has a consensus rating of Buy and a consensus price target of GBX 386.07 ($5.01).
Shares of Drax Group Plc (LON DRX) opened at 318.00 on Friday. The company’s market capitalization is GBX 1.29 billion. The company’s 50 day moving average price is GBX 326.37 and its 200-day moving average price is GBX 334.65. Drax Group Plc has a 1-year low of GBX 273.10 and a 1-year high of GBX 393.20.
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The firm also recently declared a dividend, which will be paid on Friday, October 6th. Shareholders of record on Thursday, September 21st will be issued a dividend of GBX 4.90 ($0.06) per share. The ex-dividend date is Thursday, September 21st. This is a boost from Drax Group Plc’s previous dividend of $0.40. This represents a yield of 1.47%.
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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