Drax Group plc (LON:DRX) Insider Sells £659,623.58 in Stock

Drax Group plc (LON:DRX) insider Will Gardiner sold 114,917 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of GBX 574 ($7.46), for a total transaction of £659,623.58 ($857,544.96).

Drax Group Stock Performance

DRX traded up GBX 2 ($0.03) during trading on Wednesday, reaching GBX 579.50 ($7.53). 1,560,294 shares of the company’s stock were exchanged, compared to its average volume of 1,541,567. The company has a market capitalization of £2.13 billion, a P/E ratio of 3.44, a PEG ratio of 0.10 and a beta of 1.22. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The business has a 50 day moving average price of GBX 614.20 and a 200 day moving average price of GBX 633.86. Drax Group plc has a fifty-two week low of GBX 469.50 ($6.10) and a fifty-two week high of GBX 692 ($9.00).

Drax Group (LON:DRX) last issued its earnings results on Thursday, February 27th. The company reported GBX 128.40 ($1.67) earnings per share for the quarter. Drax Group had a net margin of 9.42% and a return on equity of 31.63%. As a group, analysts predict that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

Drax Group Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 16th. Stockholders of record on Thursday, April 24th will be issued a GBX 15.60 ($0.20) dividend. The ex-dividend date of this dividend is Thursday, April 24th. This is a boost from Drax Group’s previous dividend of $10.40. This represents a dividend yield of 2.7%. Drax Group’s dividend payout ratio is presently 14.24%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DRX. Citigroup reaffirmed a “sell” rating and issued a GBX 529 ($6.88) price target on shares of Drax Group in a research report on Tuesday, February 11th. JPMorgan Chase & Co. increased their price target on Drax Group from GBX 850 ($11.05) to GBX 900 ($11.70) and gave the company an “overweight” rating in a report on Tuesday, February 11th.

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.