Drax Group Plc (DRX) Insider David Nussbaum Acquires 7,500 Shares
Drax Group Plc (LON:DRX) insider David Nussbaum acquired 7,500 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was purchased at an average cost of GBX 315 ($4.09) per share, for a total transaction of £23,625 ($30,669.87).
Shares of Drax Group Plc (LON:DRX) traded up 0.06% during trading on Monday, hitting GBX 318.20. The stock had a trading volume of 325,852 shares. Drax Group Plc has a 52 week low of GBX 273.10 and a 52 week high of GBX 393.20. The company’s market capitalization is GBX 1.29 billion. The firm has a 50-day moving average price of GBX 326.37 and a 200 day moving average price of GBX 334.65.
The firm also recently declared a dividend, which will be paid on Friday, October 6th. Shareholders of record on Thursday, September 21st will be given a dividend of GBX 4.90 ($0.06) per share. This is a positive change from Drax Group Plc’s previous dividend of $0.40. The ex-dividend date of this dividend is Thursday, September 21st. This represents a yield of 1.47%.
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A number of research analysts have commented on the company. Deutsche Bank AG reaffirmed a “hold” rating on shares of Drax Group Plc in a report on Friday. Royal Bank Of Canada raised Drax Group Plc to an “outperform” rating and upped their price objective for the company from GBX 340 ($4.41) to GBX 400 ($5.19) in a report on Monday, July 24th. J P Morgan Chase & Co reduced their target price on Drax Group Plc from GBX 400 ($5.19) to GBX 390 ($5.06) and set an “overweight” rating on the stock in a report on Monday, July 24th. Credit Suisse Group reissued an “outperform” rating on shares of Drax Group Plc in a report on Friday, July 21st. Finally, BNP Paribas reissued a “neutral” rating and set a GBX 400 ($5.19) target price on shares of Drax Group Plc in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Drax Group Plc currently has an average rating of “Buy” and a consensus price target of GBX 386.07 ($5.01).
About Drax Group Plc
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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