Drax Adds to Ongoing Buyback, Updates Share Capital and Voting Rights

Drax Group plc ( (GB:DRX) ) has issued an announcement.

Drax Group plc has continued to execute its share buyback programme, repurchasing 73,500 ordinary shares on 12 March 2026 on the London Stock Exchange via J.P. Morgan Securities at a volume-weighted average price of roughly 878 pence. Following this transaction, the company has 432,268,220 ordinary shares in issue, of which 95,128,661 are held in treasury, leaving 337,139,559 voting shares outstanding for the purposes of regulatory disclosure thresholds.

Since launching the buyback on 31 July 2025, Drax has acquired a total of 7,987,261 shares for treasury, signalling an ongoing effort to return capital and potentially enhance earnings per share. The updated share count and voting rights figure provide investors and other stakeholders with a new denominator for monitoring ownership changes and regulatory reporting under the UK’s disclosure and transparency rules.

The most recent analyst rating on (GB:DRX) stock is a Sell with a £720.00 price target. To see the full list of analyst forecasts on Drax Group plc stock, see the GB:DRX Stock Forecast page.

Spark’s Take on GB:DRX Stock

According to Spark, TipRanks’ AI Analyst, GB:DRX is a Neutral.

The score is driven primarily by mid-range financial performance (strong cash generation and manageable leverage but weaker recent profitability) and supportive technicals (trading above key moving averages with neutral momentum). Valuation metrics are very favorable on the provided P/E and dividend yield, while the earnings call adds a positive tilt from reiterated multi-year free cash flow and shareholder returns, tempered by impairments and near-term earnings pressure under the new CfD regime.

To see Spark’s full report on GB:DRX stock, click here.

More about Drax Group plc

Drax Group plc is a U.K.-listed energy company focused on power generation, with a particular emphasis on renewable and low-carbon electricity. Its operations are centred on large-scale biomass and other generation assets, serving wholesale and industrial customers in the energy market and playing a significant role in the country’s power supply mix.

Average Trading Volume: 1,250,304

Technical Sentiment Signal: Buy

Current Market Cap: £2.96B

See more insights into DRX stock on TipRanks’ Stock Analysis page.