Drax Group (LON:DRX) Share Price Passes Above 200-Day Moving Average of $465.07

Shares of Drax Group plc (LON:DRX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 465.07 ($5.74) and traded as high as GBX 495.80 ($6.12). Drax Group shares last traded at GBX 494.60 ($6.11), with a volume of 661,379 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup reaffirmed a “sell” rating and set a GBX 434 ($5.36) price target on shares of Drax Group in a report on Wednesday, April 3rd. Royal Bank of Canada dropped their price target on Drax Group from GBX 1,200 ($14.82) to GBX 1,100 ($13.59) and set an “outperform” rating for the company in a report on Wednesday, February 21st.

Drax Group Price Performance

The company has a 50 day moving average price of GBX 472.73 and a 200 day moving average price of GBX 465.07. The company has a market capitalization of £1.93 billion, a price-to-earnings ratio of 355.83, a PEG ratio of 0.10 and a beta of 1.14. The company has a current ratio of 1.12, a quick ratio of 0.32 and a debt-to-equity ratio of 78.72.

Drax Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, April 18th will be paid a dividend of GBX 13.90 ($0.17) per share. The ex-dividend date of this dividend is Thursday, April 18th. This is a boost from Drax Group’s previous dividend of $9.20. This represents a dividend yield of 3.32%. Drax Group’s payout ratio is 1,654.68%.

Insider Buying and Selling

In other Drax Group news, insider Andy Skelton sold 15,869 shares of Drax Group stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of GBX 489 ($6.04), for a total transaction of £77,599.41 ($95,849.07). 0.59% of the stock is owned by insiders.

About Drax Group

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.