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 firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of GBX 574 ($7.41), for a total transaction of £659,623.58 ($851,676.67).

Drax Group Price Performance

DRX opened at GBX 587.87 ($7.59) on Friday. The company has a fifty day simple moving average of GBX 611.55 and a 200 day simple moving average of GBX 632.48. The firm has a market cap of £2.16 billion, a price-to-earnings ratio of 3.49, a PEG ratio of 0.10 and a beta of 1.22. Drax Group plc has a twelve month low of GBX 471.60 ($6.09) and a twelve month high of GBX 692 ($8.93). The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11.

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

Drax Group Increases Dividend

The business also recently disclosed 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. This represents a yield of 2.7%. This is an increase from Drax Group’s previous dividend of $10.40. The ex-dividend date is Thursday, April 24th. Drax Group’s dividend payout ratio is 14.24%.

Analyst Ratings Changes

DRX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Drax Group from GBX 850 ($10.97) to GBX 900 ($11.62) and gave the company an “overweight” rating in a report 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 report on Tuesday, February 11th.

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.