Drax Tightens Free Float With Further Share Buyback

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

Drax Group plc bought back 74,500 ordinary shares on 30 March 2026 under its ongoing repurchase programme, paying between 859.5p and 870.5p a share, with a volume-weighted average price of about 866p. The transactions, executed through J.P. Morgan Securities on London and alternative venues, form part of a broader capital management strategy that has seen the group steadily add repurchased stock to treasury.

Following the latest purchase, Drax has 432,461,089 shares in issue, of which 95,954,615 are held in treasury, leaving 336,506,474 voting shares in the market. Since the programme began in July 2025, the company has acquired 8,861,803 shares for treasury, a move that reduces free float and may enhance per-share metrics while also influencing how investors calculate regulatory disclosure thresholds for changes in their holdings.

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 focused on power generation and related services. Its shares trade on the London Stock Exchange, and it actively manages its capital structure, including through share buyback programmes that adjust its free float and voting capital over time.

The company maintains a significant number of treasury shares, which are excluded from voting rights calculations. These holdings can be used for capital management purposes and affect metrics such as earnings per share and ownership disclosure thresholds under U.K. market regulations.

Average Trading Volume: 1,192,250

Technical Sentiment Signal: Buy

Current Market Cap: £2.88B

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