Insider Selling: Drax Group plc (LON:DRX) Insider Sells 114,917 Shares of Stock

Drax Group plc (LON:DRX) insider Will Gardiner sold 114,917 shares of Drax Group stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of GBX 574 ($7.46), for a total transaction of £659,623.58 ($857,544.96).

Drax Group Price Performance

Shares of DRX stock traded up GBX 2 ($0.03) during trading hours on Wednesday, reaching GBX 579.50 ($7.53). 1,560,294 shares of the company were exchanged, compared to its average volume of 1,541,567. Drax Group plc has a fifty-two week low of GBX 469.50 ($6.10) and a fifty-two week high of GBX 692 ($9.00). 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 stock’s fifty day moving average is GBX 614.20 and its two-hundred day moving average is GBX 633.86. The company has a market cap of £2.13 billion, a price-to-earnings ratio of 3.44, a P/E/G ratio of 0.10 and a beta of 1.22.

Drax Group (LON:DRX) last announced its quarterly earnings data on Thursday, February 27th. The company reported GBX 128.40 ($1.67) earnings per share for the quarter. Drax Group had a return on equity of 31.63% and a net margin of 9.42%. Sell-side analysts forecast that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

Drax Group Increases Dividend

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

Wall Street Analyst Weigh In

DRX has been the subject of a number of research analyst reports. Citigroup reiterated a “sell” rating and issued a GBX 529 ($6.88) target price on shares of Drax Group in a research note on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price objective on Drax Group from GBX 850 ($11.05) to GBX 900 ($11.70) and gave the stock an “overweight” rating 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.