Just Energy Group Inc. (JE) Downgraded by Zacks Investment Research
Just Energy Group Inc. (NYSE:JE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
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 topic of a number of other research reports. TD Securities upgraded shares of Just Energy Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $8.50 to $9.50 in a research note on Wednesday, October 12th. FBR & Co reissued an “outperform” rating and set a $8.00 price target on shares of Just Energy Group in a report on Thursday, July 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Just Energy Group presently has a consensus rating of “Buy” and an average target price of $8.63.
Just Energy Group (NYSE:JE) traded up 0.56% during mid-day trading on Monday, hitting $5.37. 123,107 shares of the stock were exchanged. The stock’s 50 day moving average is $5.26 and its 200 day moving average is $5.90. Just Energy Group has a 52-week low of $4.86 and a 52-week high of $7.54. The stock has a market cap of $793.55 million, a PE ratio of 2.57 and a beta of 1.36.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.0961 per share. This represents a $0.38 annualized dividend and a yield of 7.16%. The ex-dividend date was Tuesday, September 13th. Just Energy Group’s payout ratio is 23.46%.
A number of institutional investors have recently bought and sold shares of JE. Bank of Montreal Can bought a new position in Just Energy Group during the second quarter valued at about $27,333,000. Vanguard Group Inc. increased its position in Just Energy Group by 14.5% in the second quarter. Vanguard Group Inc. now owns 2,336,516 shares of the company’s stock valued at $14,205,000 after buying an additional 296,430 shares during the last quarter. Royal Bank of Canada increased its position in Just Energy Group by 11.0% in the second quarter. Royal Bank of Canada now owns 1,627,587 shares of the company’s stock valued at $9,895,000 after buying an additional 161,534 shares during the last quarter. AGF Investments Inc. bought a new position in Just Energy Group during the second quarter valued at about $5,738,000. Finally, CIBC World Markets Inc. increased its position in Just Energy Group by 101.8% in the second quarter. CIBC World Markets Inc. now owns 636,956 shares of the company’s stock valued at $3,873,000 after buying an additional 321,290 shares during the last quarter. 27.60% of the stock is currently owned by institutional investors and hedge funds.
About Just Energy Group
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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