Will Gardiner Sells 114,917 Shares of Drax Group plc (LON:DRX) Stock

Drax Group plc (LON:DRX) insider Will Gardiner sold 114,917 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of GBX 574 ($7.44), for a total value of £659,623.58 ($855,321.03).

Drax Group Stock Performance

Shares of LON:DRX opened at GBX 581 ($7.53) on Friday. The firm has a market capitalization of £2.13 billion, a PE ratio of 3.45, a P/E/G ratio of 0.10 and a beta of 1.22. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. The business has a 50-day moving average of GBX 612.03 and a two-hundred day moving average of GBX 632.83. Drax Group plc has a 12 month low of GBX 470.80 ($6.10) and a 12 month high of GBX 692 ($8.97).

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

Drax Group Increases Dividend

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

Analyst Upgrades and Downgrades

DRX has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Drax Group from GBX 850 ($11.02) to GBX 900 ($11.67) and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Citigroup reiterated a “sell” rating and issued a GBX 529 ($6.86) target price 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.