Drax Group (DRX)

Sector:

Electricity Generation and Distribution

Index:

FTSE 250

501.40p
   
  • Change Today:
    -1.40p
  • 52 Week High: 646.60
  • 52 Week Low: 401.50
  • Currency: UK Pounds
  • Shares Issued: 384.68m
  • Volume: 461,969
  • Market Cap: £1,928.80m
  • RiskGrade: 140

Sector movers: Power generators boosted by Autumn Statement, Oil and Gas drag

By Alexander Bueso

Date: Saturday 19 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Interest rate sensitive construction and utilities shares paced gains at the end of the week following the Chancellor's well-received Autumn Statement the day before.
The latter group of stocks, in particular, benefitted from the Statement, with analysts at J.P.Morgan saying that it had "materially derisked" the outlook for UK Power Generation.

"We appreciate that some were hoping for a better outcome, whether via generous investment allowances or a higher threshold for excess profits," they said.

"Still, the market should not forget that these companies still have significant leverage to higher power prices, and we anticipate earnings upgrades to come."

Positive earnings momentum aside, the investment bank also believed that SSE, Centrica and Drax all offered "attractive" valuations and opportunities for value creation in a volatile environment.

Going the other way, Oil and Gas was the main drag on the market due to the weakening demand outlook.

"Oil has seen several sharp drops this week, followed up by tepid rallies that suggest recession fears are really making themselves felt in the commodity," said IG chief market analyst Chris Beauchamp.

"[...] While FOMC members go on about rising rates, the market is watching oil and other things like shipping rates and expecting further weakness in US CPI prints in coming months."



Top performing sectors so far today

Automobiles & Parts 1,351.22 +4.23%

Industrial Transportation 3,670.07 +3.17%

Personal Goods 34,139.04 +2.52%

Construction & Materials 6,898.56 +1.78%

Gas, Water & Multiutilities 5,775.05 +1.77%

Bottom performing sectors so far today

Oil, Gas and Coal 8,194.88 -0.69%

Aerospace and Defence 4,676.65 -0.64%

Industrial Metals & Mining 7,300.59 -0.19%

Electronic & Electrical Equipment 9,198.56 -0.12%

Alternative Energy 0.00 0.00%

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Drax Group Market Data

Currency UK Pounds
Share Price 501.40p
Change Today -1.40p
% Change -0.28 %
52 Week High 646.60
52 Week Low 401.50
Volume 461,969
Shares Issued 384.68m
Market Cap £1,928.80m
RiskGrade 140

Drax Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.88% above the market average84.88% above the market average84.88% above the market average84.88% above the market average84.88% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
3.66% below the market average3.66% below the market average3.66% below the market average3.66% below the market average3.66% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Income
90.91% above the market average90.91% above the market average90.91% above the market average90.91% above the market average90.91% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
89.08% above the market average89.08% above the market average89.08% above the market average89.08% above the market average89.08% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average

What The Brokers Say

Strong Buy 2
Buy 3
Neutral 2
Sell 0
Strong Sell 1
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Drax Group Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Apr-24 24-Aug-23
Paid 17-May-24 06-Oct-23
Amount 13.90p 9.20p

Trades for 28-Mar-2024

Time Volume / Share Price
16:39 500 @ 499.20p
16:35 327,007 @ 501.40p
16:35 521 @ 501.40p
16:35 520 @ 501.40p
16:35 521 @ 501.40p

Drax Group Key Personnel

CEO Will Gardiner
CFO Andy Skelton
Chair Andrea Bertone

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