Drax Continues Share Buyback, Updates Voting Rights After Latest Repurchase

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

Drax Group plc has continued to execute its previously announced share buyback programme, repurchasing 72,200 ordinary shares on 20 March 2026 via J.P. Morgan Securities at prices between 872.5p and 899p, with a volume-weighted average price of 887.0993p. Following this latest transaction, the company has 432,461,089 ordinary shares in issue, of which 95,558,479 are held in treasury, leaving 336,902,610 voting shares in the market and signalling an ongoing effort to return capital to shareholders and manage its capital structure.

Since the launch of the buyback in July 2025, Drax has acquired a total of 8,417,079 shares for treasury, gradually reducing the free float and potentially enhancing earnings per share over time. The updated voting rights figure also provides an important reference for investors and other stakeholders monitoring disclosure thresholds under U.K. transparency rules, underscoring the governance and regulatory implications of the programme’s progress.

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 operating the Drax Power Station and focusing on renewable power generation and bioenergy. The group is positioned within the broader utilities and low-carbon energy sector, with its shares traded on the London Stock Exchange and held widely by institutional and retail investors.

Average Trading Volume: 1,179,002

Technical Sentiment Signal: Buy

Current Market Cap: £2.96B

Learn more about DRX stock on TipRanks’ Stock Analysis page.