Drax Advances Share Buyback as Treasury Holdings Grow

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

Drax Group plc has continued to execute its previously announced share buyback programme, repurchasing 72,981 ordinary shares on 11 March 2026 via J.P. Morgan Securities at prices between 862.0p and 886.5p, with a volume-weighted average price of 874.0151p. The transactions form part of a broader capital management strategy that has seen 7,913,761 shares bought back into treasury since July 2025.

Following the latest buyback, Drax now has 432,268,220 ordinary shares in issue, of which 95,055,161 are held in treasury, leaving 337,213,059 voting shares outstanding. The updated share capital and voting rights figures provide an important reference point for investors assessing their disclosure obligations and reflect the ongoing reduction in free float as the company returns capital to shareholders.

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 best known for its biomass and power generation operations, supplying electricity and related services to the British market. The group focuses on transitioning from fossil fuels to renewable and low-carbon energy solutions, positioning itself as a key player in the decarbonisation of the power sector and wider energy system in the U.K.

Average Trading Volume: 1,260,487

Technical Sentiment Signal: Buy

Current Market Cap: £2.94B

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