Just Energy Group Inc. (JE) Upgraded at Zacks Investment Research
Just Energy Group Inc. (NYSE:JE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $5.75 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 9.73% from the company’s previous close.
According to Zacks, “Just Energy Group Inc. is engaged in the sale of natural gas and/or electricity to residential and commercial customers under long-term fixed-price and price-protected contracts. It also offers green products through its JustGreen and JustClean programs. Just Energy also sells and rents high efficiency and tankless water heaters, air conditioners and furnaces to Ontario residents. It also produces and sells wheat-based ethanol through its subsidiary Terra Grain Fuels. Just Energy Group Inc. is based in Toronto. “
JE has been the subject of several other reports. TD Securities upgraded Just Energy Group from a “hold” rating to a “buy” rating in a report on Wednesday. FBR & Co restated a “buy” rating on shares of Just Energy Group in a report on Saturday, September 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.46.
Just Energy Group (NYSE:JE) traded up 7.38% during midday trading on Wednesday, hitting $5.24. The stock had a trading volume of 423,331 shares. Just Energy Group has a 12 month low of $4.86 and a 12 month high of $7.54. The company has a market cap of $774.34 million, a P/E ratio of 2.50 and a beta of 1.36. The firm’s 50-day moving average price is $5.28 and its 200 day moving average price is $5.91.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.0961 dividend. This represents a $0.38 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend was Tuesday, September 13th. Just Energy Group’s dividend payout ratio (DPR) is currently 23.46%.
Large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in Just Energy Group during the second quarter valued at $105,000. Dynamic Technology Lab Private Ltd acquired a new stake in Just Energy Group during the second quarter valued at $124,000. Acrospire Investment Management LLC boosted its stake in Just Energy Group by 93.0% in the second quarter. Acrospire Investment Management LLC now owns 24,851 shares of the company’s stock valued at $151,000 after buying an additional 11,978 shares during the period. Creative Planning boosted its stake in Just Energy Group by 5.4% in the second quarter. Creative Planning now owns 26,350 shares of the company’s stock valued at $160,000 after buying an additional 1,350 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Just Energy Group by 662.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,392 shares of the company’s stock valued at $165,000 after buying an additional 23,800 shares during the period. Institutional investors and hedge funds own 27.60% of the company’s stock.
Just Energy Group Company Profile
Just Energy Group Inc (Just Energy) is an energy management solutions provider engaged in electricity, natural gas, solar and green energy. The Company’s segments include Consumer Energy and Commercial Energy. The Company operates in the United States, Canada and the United Kingdom, offering a range of energy products, including long-term fixed-price, variable rate and flat bill programs; home energy management services, including smart thermostats and tools to manage energy use at the appliance level, and residential solar panel installations.
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