Drax Continues Share Buyback, Tightening Free Float and Voting Capital

An announcement from Drax Group plc ( (GB:DRX) ) is now available.

Drax Group plc has continued executing its previously announced share buyback programme, repurchasing 71,200 ordinary shares on 19 March 2026 on the London Stock Exchange via J.P. Morgan Securities at prices between 886p and 900p, with a volume-weighted average price of about 891.67p. Following this latest transaction, Drax now has 432,461,089 ordinary shares in issue, of which 95,486,279 are held in treasury, leaving 336,974,810 voting shares outstanding, information the company says will help investors and other stakeholders calculate disclosure thresholds under FCA rules and reflects an ongoing effort to manage its capital structure and shareholder returns.

Since the start of the buyback in July 2025, the company has acquired a total of 8,344,879 shares for treasury, gradually reducing the free float and potentially enhancing earnings per share for remaining investors. The repurchases, executed across multiple trading venues including XLON, BATE and CHIX, underscore Drax’s active capital management strategy at a time when many U.K. corporates are using buybacks to signal confidence and optimize balance sheets.

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 U.K.-listed energy company best known for owning and operating the Drax Power Station, a major renewable and biomass-based electricity generator. The group focuses on power generation and related energy services, supplying low-carbon electricity into the U.K. market and positioning itself as a key player in the transition away from fossil fuels.

Average Trading Volume: 1,179,403

Technical Sentiment Signal: Buy

Current Market Cap: £3.01B

For an in-depth examination of DRX stock, go to TipRanks’ Overview page.