Drax Group Plc (LON:DRX) Rating Lowered to Neutral at Citigroup Inc

Paterniano Del Favero
Luglio 22, 2017

Drax Group PLC now has an average rating of "Hold".

Separately, Jefferies Group LLC raised shares of Drax Group PLC from an "underperform" rating to a "buy" rating in a research report on Tuesday, May 2nd.

Drax Group Plc (LON:DRX) had its price objective increased by Macquarie from GBX 350 ($4.57) to GBX 370 ($4.83) in a research report report published on Tuesday, June 27th, Marketbeat.com reports.

Shares of Drax Group PLC (OTCMKTS DRXGY) traded up 0.000% during mid-day trading on Wednesday, hitting $6.571.

Citigroup Inc. cut shares of Drax Group Plc (LON:DRX) to a neutral rating in a report released on Wednesday morning. Finally, J P Morgan Chase & Co restated an "overweight" rating and set a GBX 410 ($5.31) target price on shares of Drax Group Plc in a report on Friday, June 16th.

TRADEMARK VIOLATION NOTICE: "Drax Group PLC (DRXGY) Receives Neutral Rating from Citigroup Inc." was originally reported by Community Financial News and is owned by of Community Financial News. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company.

Shares of Drax Group Plc closed the previous trading session at 318.63 down -6.92 -2.13% with 1,836,483 shares trading hands. The company's 50-day moving average is $8.84 and its 200 day moving average is $10.91. The stock's market capitalization is GBX 1.28 billion. If you are reading this article on another site, it was illegally copied and reposted in violation of USA and worldwide copyright and trademark legislation. The correct version of this article can be viewed at https://sportsperspectives.com/2017/07/21/hsbc-holdings-plc-raises-drax-group-plc-londrx-price-target-to-gbx-360-updated-updated.html.

The company also recently disclosed a dividend, which will be paid on Friday, October 6th. Investors of record on Thursday, September 21st will be given a dividend of GBX 4.90 ($0.06) per share. This represents a dividend yield of 1.47%. 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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