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 ($7.41), for a total transaction of £659,623.58 ($851,676.67).

Drax Group Stock Performance

LON:DRX opened at GBX 587.87 ($7.59) on Friday. Drax Group plc has a fifty-two week low of GBX 471.60 ($6.09) and a fifty-two week high of GBX 692 ($8.93). The firm’s 50 day moving average is GBX 611.55 and its two-hundred day moving average is GBX 632.48. The company has a market cap of £2.16 billion, a P/E ratio of 3.49, a P/E/G 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.

Drax Group (LON:DRX) last released its quarterly earnings data on Thursday, February 27th. The company reported GBX 128.40 ($1.66) earnings per share (EPS) for the quarter. Drax Group had a net margin of 9.42% and a return on equity of 31.63%. Analysts expect that Drax Group plc will post 97.4732006 EPS for the current year.

Drax Group Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Drax Group from GBX 850 ($10.97) to GBX 900 ($11.62) and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Citigroup reaffirmed a “sell” rating and set a GBX 529 ($6.83) price target on shares of Drax Group in a research note 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.