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DRX Drax Group Plc

-5.50 (-1.08%)
15 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Drax Group Plc LSE:DRX London Ordinary Share GB00B1VNSX38 ORD 11 16/29P
  Price Change % Change Share Price Shares Traded Last Trade
  -5.50 -1.08% 505.00 857,738 16:29:58
Bid Price Offer Price High Price Low Price Open Price
503.50 505.00 511.50 498.60 509.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Electric Services 8.13B 562.2M 1.4615 3.46 1.94B
Last Trade Time Trade Type Trade Size Trade Price Currency
18:09:45 O 0 504.50 GBX

Drax (DRX) Latest News (1)

Drax (DRX) Discussions and Chat

Drax Forums and Chat

Date Time Title Posts
05/3/202410:52Drax - Coal power and yield3,747
21/8/202221:50Drax - Biomass16
23/7/201820:59Drax (DRX) One to Watch on Tuesday -
23/2/201608:07*** Drax ***938
12/9/201411:42Zak Mir says CONVICTION BUY on Drax Group (DRX.L)4

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Drax (DRX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Drax (DRX) Top Chat Posts

Top Posts
Posted at 15/4/2024 09:20 by Drax Daily Update
Drax Group Plc is listed in the Electric Services sector of the London Stock Exchange with ticker DRX. The last closing price for Drax was 510.50p.
Drax currently has 384,682,565 shares in issue. The market capitalisation of Drax is £1,942,646,953.
Drax has a price to earnings ratio (PE ratio) of 3.46.
This morning DRX shares opened at 509p
Posted at 08/1/2024 10:10 by brucethegoldfish
Share price activity this morning more likely due to UK government expected to approve billions for Drax’s BECCS plan
Posted at 24/10/2023 15:30 by geckotheglorious
Drax falls are ‘overdone̵7;, says JOHCM’s Lowen
JOHCM’s James Lowen believes the fall in Drax (DRX) shares is ‘overdone̵7; given its critical position in UK energy generation.

Lowen holds the Citywire Elite Companies AAA-rated stock in his £1.5bn JOHCM UK Equity Income fund and – despite a share-price tumble of late – he remains positive on its long-term prospects.

He said there were a number of reasons for the fall, including the ‘ongoing noise around whether biomass is good or bad environmentally̵7;.

In August, the government’s Biomass Strategy 2023 paper indicated ‘the potential extraordinary role which biomass could play across the economy, in power, heating and transportation, including a priority role in bioenergy with carbon capture and storage (BECCS)’.

Currently, Drax produces 5% of UK electricity, making it ‘strategically important’, believes Lowen. ‘Put simply without Drax, system security and capacity would be impaired,’ he said.

The shares were also dented by prime minister Rishi Sunak’s ‘row back’ on certain aspects of carbon reduction, albeit none linked to Drax’s operations, and ‘adverse commentary around factoring, which was correct but already fully disclosed in the annual accounts’.

‘We believe the fall is overdone,’ said Lowen.

Shares in Drax were trading at 402p on Monday.

(Emailed from Citywire this morning)
Posted at 20/10/2023 12:15 by kash_
TodayDrax Group (#DRX) ? 417.7pBank of America Corporation #TR1 11.9% (? 0.11%) ~=0.4m #acquired 20/10 11:51 #RNS Holding(s) in Company
Posted at 27/9/2023 14:56 by disc0dave46
To the down ticker, please explain why you disagree with posting news relevant to DRX?Https://
Posted at 01/3/2023 16:53 by viscount1
Sold out. My investment theory from last year that Drax could profit asymmetrically from electricity price spikes has not borne fruit, and I can't see this moving much from here.
Posted at 13/1/2023 09:30 by geckotheglorious
Market underrates Drax, says Marlborough’s Chand-Lall
Power generation company Drax (DRX) has long-term potential that the market has not recognised, says Marlborough fund manager Siddarth Chand-Lall.

Chand-Lall holds the stock in his £658m Marlborough Multi-Cap Income fund, and in a recent update noted the company’s ‘significant change’ following the closure of its last two remaining coal-powered sites in 2021.

‘Drax has transformed itself to become the UK’s largest generator of power from renewable sources including biomass and hydro,’ he said.

‘It has submitted plans to build a multi-billion-pound facility in North Yorkshire combining biomass power generation with carbon capture and storage. Drax plans to use this technology to achieve carbon-negative status by 2030.’

Chand-Lall noted the company’s high cash generation that supports ‘an attractive dividend yield of 3-4%’ and earnings that are forecasts to growth at an annualised rate of 18% between now and 2025.

‘Dividends per share have grown at an annualised rate of 10% over the past five years and that’s expected to rise to 12% this year,’ he said.

The shares trade at a multiple of 9.4 times earnins but is in ‘the process of ambitious change and trading robustly’.

‘In our view, this is a company with strong long-term growth potential that is not reflected in its current valuation,’ said Chand-Lall.

Drax shares gained 2.6% to 665p on Thursday.
Posted at 20/12/2022 21:23 by geckotheglorious
"Electricity Generators Levy"
Publication by UK Government of further details of Electricity Generators Levy

In November 2022, the UK Government ('Government') announced a windfall tax on renewable and low-carbon generators, termed the Electricity Generators Levy (EGL), to be implemented from 1 January 2023 and structured as a levy on power sales above a benchmark of £75/MWh.

Through November and December, Drax has engaged with the UK Government regarding the precise details of the EGL, including the treatment of fuel costs for dispatchable generators. On 20 December 2022, Government published a technical note and draft legislation, which includes an allowable exceptional fuel cost element, increasing the underlying £75/MWh benchmark (indexed to CPI from April 2024).

The allowable exceptional fuel cost will be calculated retrospectively based on the actual cost above a baseline fuel cost of £65/MWh or historical levels, whichever is lower.

In its Trading Update, issued on 15 December 2022, Drax indicated an expectation for the cost of biomass generation in 2023 to be in excess of £100/MWh. 

The levy will apply to Drax's three biomass units operating under the Renewable Obligation scheme and its run of river hydro operations. The levy will not apply to Drax's CfD biomass unit, pumped storage hydro and coal generation.
Posted at 20/12/2022 15:34 by viscount1
Anyone know why the share price is shooting up today, several days after a trading update?
Posted at 07/10/2022 09:07 by ginty the brave
Given the current economic and political climate, is DRX worth investing in? I would be looking for 650p + in the short term.

Thanks for your thoughts.
Posted at 11/8/2022 11:05 by viscount1
What French consumers pay on subsidised retail is irrelevant to the economics for DRX. What matters is wholesale prices in the EU which will remain escalated as long as gas is escalated. The UK has been exporting power on interconnectors over the last few months (normal in summer), and will probably carry on doing so in winter (which is unusual).

This is constructive for DRX in the short-term.
Drax share price data is direct from the London Stock Exchange

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