Drax Group Plc (DRX) Receives “Hold” Rating from Deutsche Bank AG
Deutsche Bank AG restated their hold rating on shares of Drax Group Plc (LON:DRX) in a research report sent to investors on Monday, July 24th. The firm currently has a GBX 310 ($4.04) target price on the stock.
Several other analysts have also issued reports on the stock. Credit Suisse Group restated an outperform rating on shares of Drax Group Plc in a research report on Friday, July 21st. BNP Paribas restated a neutral rating and set a GBX 400 ($5.21) target price on shares of Drax Group Plc in a research report on Thursday, July 20th. Citigroup Inc. downgraded shares of Drax Group Plc to a neutral rating and lowered their price target for the company from GBX 391 ($5.09) to GBX 365 ($4.75) in a report on Wednesday, July 19th. J P Morgan Chase & Co reaffirmed an overweight rating and set a GBX 400 ($5.21) price target on shares of Drax Group Plc in a report on Tuesday, July 18th. Finally, HSBC Holdings plc lifted their price target on shares of Drax Group Plc from GBX 340 ($4.43) to GBX 360 ($4.69) and gave the company a hold rating in a report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of GBX 386.07 ($5.03).
Drax Group Plc (DRX) opened at 319.50 on Monday. The company’s market cap is GBX 1.30 billion. The firm’s 50-day moving average price is GBX 328.55 and its 200-day moving average price is GBX 336.48. Drax Group Plc has a 12-month low of GBX 273.10 and a 12-month high of GBX 393.20.
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The firm also recently disclosed a dividend, which will be paid on Friday, October 6th. Investors of record on Thursday, September 21st will be paid a GBX 4.90 ($0.06) dividend. The ex-dividend date of this dividend is Thursday, September 21st. This is a positive change from Drax Group Plc’s previous dividend of $0.40. This represents a yield of 1.47%.
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’s segments include 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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