Just Energy Group Inc. (JE) Stock Rating Upgraded by Zacks Investment Research
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 to investors on Wednesday. The firm presently has a $5.75 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 9.73% from the company’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 research analysts have also recently issued reports on the company. TD Securities restated a “hold” rating and issued a $8.50 price objective on shares of Just Energy Group in a research note on Saturday, August 13th. FBR & Co restated 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $8.46.
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Just Energy Group (NYSE:JE) traded up 7.38% on Wednesday, reaching $5.24. The company had a trading volume of 423,331 shares. Just Energy Group has a 1-year low of $4.86 and a 1-year high of $7.54. The stock’s 50 day moving average is $5.28 and its 200-day moving average is $5.91. The stock has a market capitalization of $774.34 million, a P/E ratio of 2.50 and a beta of 1.36.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors 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 7.34%. The ex-dividend date of this dividend was Tuesday, September 13th. Just Energy Group’s dividend payout ratio (DPR) is 23.46%.
Hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Just Energy Group during the second quarter valued at approximately $105,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Just Energy Group during the second quarter valued at approximately $124,000. Acrospire Investment Management LLC raised its stake 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. Creative Planning raised its stake 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Just Energy Group by 662.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,392 shares of the company’s stock valued at $165,000 after buying an additional 23,800 shares during the last quarter. 27.60% of the stock is currently owned by institutional investors.
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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