Royce & Associates LP decreased its stake in shares of Just Energy Group Inc. (NYSE:JE) by 21.2% during the second quarter, Holdings Channel reports. The fund owned 25,220 shares of the company’s stock after selling 6,800 shares during the period. Royce & Associates LP’s holdings in Just Energy Group were worth $153,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Just Energy Group during the second quarter worth $27,333,000. AGF Investments Inc. purchased a new stake in Just Energy Group during the second quarter worth $5,738,000. Acadian Asset Management LLC raised its stake in Just Energy Group by 108.4% in the first quarter. Acadian Asset Management LLC now owns 1,392,810 shares of the company’s stock worth $8,314,000 after buying an additional 724,600 shares in the last quarter. CIBC World Markets Inc. raised its stake 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 worth $3,873,000 after buying an additional 321,290 shares in the last quarter. Finally, Credit Agricole S A purchased a new stake in Just Energy Group during the first quarter worth $191,000. Institutional investors and hedge funds own 27.60% of the company’s stock.
Shares of Just Energy Group Inc. (NYSE:JE) traded down 2.26% during trading on Friday, hitting $5.20. 39,621 shares of the company’s stock were exchanged. The stock has a market cap of $768.42 million, a P/E ratio of 2.48 and a beta of 1.35. The firm has a 50-day moving average price of $5.58 and a 200-day moving average price of $6.01. Just Energy Group Inc. has a one year low of $5.03 and a one year high of $7.54.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.0961 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 7.23%. Just Energy Group’s dividend payout ratio (DPR) is presently 23.46%.
A number of analysts have recently weighed in on JE shares. FBR & Co reiterated an “outperform” rating and set a $8.00 target price on shares of Just Energy Group in a report on Thursday, July 7th. Zacks Investment Research downgraded shares of Just Energy Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Finally, TD Securities reissued a “hold” rating and issued a $8.50 price target on shares of Just Energy Group in a research note on Saturday, August 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $8.61.
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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