Just Energy Group Inc. (NYSE:JE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 several other reports. TD Securities raised shares of Just Energy Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $8.50 to $9.50 in a research note on Wednesday, October 12th. FBR & Co restated an “outperform” rating and set a $8.00 target price on shares of Just Energy Group in a research report on Thursday, July 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $8.63.
Just Energy Group (NYSE:JE) traded up 0.56% during midday trading on Monday, reaching $5.37. 123,107 shares of the company traded hands. Just Energy Group has a 12 month low of $4.86 and a 12 month high of $7.54. The company’s 50-day moving average price is $5.26 and its 200 day moving average price is $5.90. The firm has a market capitalization of $793.55 million, a PE ratio of 2.57 and a beta of 1.36.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a $0.0961 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.38 annualized dividend and a dividend yield of 7.16%. Just Energy Group’s dividend payout ratio is presently 23.46%.
Large investors have recently added to or reduced their stakes in the company. AJO LP acquired a new stake in Just Energy Group during the second quarter valued at approximately $963,000. Acrospire Investment Management LLC raised 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 in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Just Energy Group during the second quarter valued at approximately $1,162,000. JPMorgan Chase & Co. raised its stake in Just Energy Group by 535.2% in the second quarter. JPMorgan Chase & Co. now owns 58,008 shares of the company’s stock valued at $353,000 after buying an additional 48,876 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in 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 in the last quarter. 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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