Zacks Investment Research Downgrades Just Energy Group Inc. (JE) to Strong Sell
Just Energy Group Inc. (NYSE:JE) (TSE:JE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released 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. “
A number of other equities research analysts also recently weighed in on the company. FBR & Co set a $8.00 price objective on Just Energy Group and gave the company a “buy” rating in a research report on Monday, November 14th. Canaccord Genuity assumed coverage on Just Energy Group in a research note on Monday, November 14th. They issued a “buy” rating for the company. RBC Capital Markets reiterated a “sector perform” rating and issued a $8.00 price target (down from $8.50) on shares of Just Energy Group in a research note on Friday, November 11th. Finally, TD Securities upgraded Just Energy Group from a “hold” rating to a “buy” rating and increased their price target for the company from $8.50 to $9.50 in a research note on Wednesday, October 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $8.54.
Just Energy Group (NYSE:JE) opened at 5.35 on Monday. The company’s 50 day moving average price is $5.19 and its 200-day moving average price is $5.73. The company has a market capitalization of $790.69 million, a P/E ratio of 3.35 and a beta of 1.32. Just Energy Group has a 52 week low of $4.86 and a 52 week high of $7.38.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Traynor Capital Management Inc. boosted its position in shares of Just Energy Group by 1.9% in the third quarter. Traynor Capital Management Inc. now owns 32,540 shares of the company’s stock valued at $177,000 after buying an additional 603 shares during the last quarter. Creative Planning boosted its position in shares of 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 last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in shares of Just Energy Group by 2.4% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 346,600 shares of the company’s stock valued at $2,717,000 after buying an additional 8,100 shares during the last quarter. Acrospire Investment Management LLC boosted its position in shares of 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 last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Just Energy Group during the second quarter valued at about $105,000. Hedge funds and other institutional investors own 27.56% of the company’s stock.
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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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