Other equities analysts have also recently issued reports about the stock. Deutsche Bank AG upped their target price on shares of 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. HSBC upgraded shares of Drax Group Plc to a hold rating in a research note on Friday, August 12th. JPMorgan Chase & Co. upped their target price on shares of Drax Group Plc from GBX 260 ($3.39) to GBX 350 ($4.57) and gave the company a neutral rating in a research note on Friday, July 22nd. Citigroup Inc. upgraded shares of Drax Group Plc to a neutral rating and set a GBX 305 ($3.98) target price for the company in a research note on Wednesday, August 24th. Finally, BNP Paribas cut shares of Drax Group Plc to a neutral rating and set a GBX 340 ($4.44) target price for the company. in a research note on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of GBX 288.81 ($3.77).
Drax Group Plc (LON:DRX) traded down 0.36% during mid-day trading on Tuesday, hitting GBX 305.70. 299,679 shares of the company’s stock were exchanged. Drax Group Plc has a 52 week low of GBX 205.10 and a 52 week high of GBX 363.90. The firm has a 50 day moving average of GBX 309.22 and a 200 day moving average of GBX 311.10. The stock’s market capitalization is GBX 1.24 billion.
The company also recently announced a dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 22nd will be given a dividend of GBX 2.10 ($0.03) per share. This represents a dividend yield of 0.61%. This is a positive change from Drax Group Plc’s previous dividend of $0.60. The ex-dividend date of this dividend is Thursday, September 22nd.
Drax Group Plc Company Profile
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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