Drax sees FY profits at top end of forecasts; Aims to double biomass capacity
1st Dec 2021 07:05
(Sharecast News) - Power generator Drax said it expected annual core earnings to be at the top end of current forecasts as it looked to double sustainable biomass production capacity and sales by 2030.
Read moreJefferies ups rating and estimates for Drax
18th Oct 2021 08:18
(Sharecast News) - Jefferies has upgraded its earnings estimates for Drax, arguing that the energy firm is well-placed to benefit from soaring power prices.
Read moreDrax surges as Barclays hikes price target by 75%
16th Sep 2021 12:37
(Sharecast News) - Drax shares powered ahead on Thursday after Barclays hiked its price target by 75% to 960p, implying 120% upside potential.
Read moreDrax Group raises interim dividend following 'great first half of the year'
29th Jul 2021 09:12
(Sharecast News) - Power generation business Drax Group said on Thursday that it had experienced "a great first half of the year", leading the group to up its interim dividend.
Read moreDrax refinances Pinnacle Canadian dollar facilities
13th Jul 2021 07:54
(Sharecast News) - Drax Group has refinanced the Canadian dollar facilities it acquired as part of its acquisition of Pinnacle Renewable Energy in April, it announced on Tuesday.
Read moreDrax lifts Alabama Pellets stake to 90% for $29.7m
1st Jul 2021 07:29
(Sharecast News) - Renewable energy company Drax has lifted its stake in the US Alabama Pellets joint venture to 90% for $29.7m.
Read moreWednesday broker round-up
2nd Jun 2021 13:19
(Sharecast News) - Tate & Lyle: Berenberg upgrades to buy with a target price of 855p.
Read moreCiti upgrades Drax, Centrica
17th May 2021 09:57
(Sharecast News) - Citi upgraded its stance on shares of Drax on Monday to 'buy' from 'neutral' following the recent UK power price rally of more than 20% in the last month.
Read moreDrax to buy Canada's Pinnacle for £226m
8th Feb 2021 07:01
(Sharecast News) - UK energy producer Drax on Monday said it was buying Canadian firm Pinnacle Renewable Energy for 11.30 Canadian dollars a share, valuing it at £226m.
Read moreDrax sells gas assets for £193m
15th Dec 2020 08:13
(Sharecast News) - Power generator Drax said it had sold its gas assets to VPI Holding for £193.3m as it moved towards its 2030 target of becoming carbon negative.
Read moreDrax refinances revolving credit facility
19th Nov 2020 09:35
(Sharecast News) - Drax has completed the refinancing of its revolving credit facility, it announced on Thursday, reporting that the new £300m matures in 2025, with an option to extend by one year.
Read moreIEA: Governments need carbon storage tech to meet energy goals
24th Sep 2020 10:02
(Sharecast News) - The International Energy Agency said that without carbon capture, utilisation and storage programs it will be impossible for governments and large companies to meet targets for the reduction of greenhouse gases.
Read moreDirector dealings: Drax CEO ups stake
31st Jul 2020 16:54
(Sharecast News) - Drax Group revealed on Friday that chief executive Will Gardiner had acquired 54,772 ordinary shares in the FTSE 250-listed electricity generator.
Read moreDrax hikes interim dividend, takes hit from coal obsolescence
29th Jul 2020 08:23
(Sharecast News) - Drax Group reported a 30% improvement in group adjusted EBITDA in its first half on Wednesday, to £179m.
Read moreDrax powers ahead on bid speculation
29th Jun 2020 10:53
(Sharecast News) - Drax shares surged on Monday amid speculation the temporary power provider could be a takeover target.
Read more