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An announcement from Drax Group plc ( (GB:DRX) ) is now available.
Drax Group plc continued to execute its share buyback programme with the purchase of 73,000 ordinary shares on 23 March 2026, at prices ranging between 841.5p and 870.0p and a volume-weighted average price of 857.845p. Following this transaction, the company has 432,461,089 shares in issue, of which 95,582,891 are held in treasury, and since launching the programme in July 2025 it has bought back a total of 8,490,079 shares, reducing the free float to 336,878,198 voting shares and signalling an ongoing effort to return capital to shareholders and manage its capital structure.
The updated voting rights figure of 336,878,198 shares provides the new reference denominator for investors’ disclosure obligations under UK transparency rules. This ongoing reduction in the public float may support earnings per share and underscores Drax’s confidence in its financial position while potentially increasing the influence of remaining shareholders over corporate decisions.
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 DRX Stock
According to Spark, TipRanks’ AI Analyst, 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 DRX stock, click here.
More about Drax Group plc
Drax Group plc is a UK-based energy company focused on power generation and renewable energy solutions. Listed on the London Stock Exchange, it operates large-scale generation assets and is a significant player in the transition toward lower-carbon electricity in the British power market.
Average Trading Volume: 1,196,906
Technical Sentiment Signal: Buy
Current Market Cap: £2.84B
For a thorough assessment of DRX stock, go to TipRanks’ Stock Analysis page.