Financial data provider Fintel reported that Barclays reiterated its coverage of Drax Group (LSE:DRX) with an Overweight recommendation on May 24, 2023.
The average one-year price target for Drax Group as of May 11, 2023 is 898.62, with forecasts ranging between 634.28 and 1,207.50. This represents an increase of 49.17% from the latest closing price of 602.40.
The projected annual revenue for Drax Group is expected to increase by 4.37% to 8,115MM, while the projected annual non-GAAP EPS is 1.13.
Drax Group has a dividend yield of 3.39%, with a dividend payout ratio of 1.00. The 3-year dividend growth rate is 0.32%, indicating that the company has increased its dividend over that period. Companies with few growth prospects usually pay out most of their earnings in dividends, usually resulting in a payout ratio between 0.5 and 1.0.
According to Fintel, 134 funds or institutions have reported positions in Drax Group, which is an increase of 5 owners or 3.88% in the last quarter. The average portfolio weight of all funds dedicated to DRX is 0.33%, an increase of 7.45%. Additionally, total shares owned by institutions increased in the last three months by 4.73% to 53,169K shares.
The largest shareholders in Drax Group include Franklin Utilities Fund 1 (1.74%), Vanguard Total International Stock Index Fund Investor Shares (1.31%), Dfa International Small Cap Value Portfolio – Institutional Class (1.11%), Vanguard Developed Markets Index Fund Admiral Shares (0.76%), and Goldman Sachs International Small Cap Insights Fund Institutional (0.62%).
Note that the views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Nasdaq, Inc.