Just Energy Group Inc. (NYSE:JE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $5.75 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 8.90% from the stock’s current price.
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. “
Several other analysts have also recently weighed in on the stock. TD Securities raised shares of Just Energy Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $8.50 to $9.50 in a research note on Wednesday. FBR & Co reissued an “outperform” rating and issued a $8.00 price objective on shares of Just Energy Group in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $8.63.
Shares of Just Energy Group (NYSE:JE) opened at 5.28 on Wednesday. The firm has a 50 day moving average price of $5.28 and a 200 day moving average price of $5.91. Just Energy Group has a 1-year low of $4.86 and a 1-year high of $7.54. The firm has a market cap of $780.25 million, a P/E ratio of 2.52 and a beta of 1.36.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a dividend of $0.0961 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.38 dividend on an annualized basis and a yield of 7.28%. Just Energy Group’s dividend payout ratio (DPR) is currently 23.46%.
A number of hedge funds have recently modified their holdings of JE. Bank of Montreal Can purchased a new stake in shares of Just Energy Group during the second quarter worth approximately $27,333,000. Vanguard Group Inc. boosted its stake in shares of Just Energy Group by 14.5% in the second quarter. Vanguard Group Inc. now owns 2,336,516 shares of the company’s stock worth $14,205,000 after buying an additional 296,430 shares during the period. Royal Bank of Canada boosted its stake in shares of 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 worth $9,895,000 after buying an additional 161,534 shares during the period. AGF Investments Inc. purchased a new stake in shares of Just Energy Group during the second quarter worth approximately $5,738,000. Finally, CIBC World Markets Inc. boosted its stake in shares of Just Energy Group by 101.8% in the second quarter. CIBC World Markets Inc. now owns 636,956 shares of the company’s stock worth $3,873,000 after buying an additional 321,290 shares during the period. 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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