HC Wainwright Reiterates “$7.00” Price Target for Just Energy Group (JE)

Just Energy Group (NYSE:JE) (TSE:JE) has been assigned a $7.00 price objective by research analysts at HC Wainwright in a note issued to investors on Friday, TipRanks reports. The firm presently has a “buy” rating on the utilities provider’s stock. HC Wainwright’s target price points to a potential upside of 124.36% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Canaccord Genuity downgraded Just Energy Group from a “buy” rating to a “hold” rating in a research report on Monday. B. Riley initiated coverage on Just Energy Group in a research report on Thursday, March 14th. They issued a “buy” rating and a $6.00 target price on the stock. CIBC set a $5.00 target price on Just Energy Group and gave the company a “hold” rating in a research report on Thursday, March 21st. ValuEngine downgraded Just Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Finally, National Bank Financial restated a “hold” rating on shares of Just Energy Group in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Just Energy Group has a consensus rating of “Hold” and an average price target of $5.37.

Shares of NYSE JE traded down $0.13 during midday trading on Friday, hitting $3.12. The stock had a trading volume of 618,419 shares, compared to its average volume of 191,548. The company has a market cap of $466.75 million, a PE ratio of 2.64 and a beta of 0.56. Just Energy Group has a 1 year low of $2.80 and a 1 year high of $4.34. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.16 and a quick ratio of 1.12.

A number of institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in Just Energy Group by 0.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,378,437 shares of the utilities provider’s stock worth $28,410,000 after buying an additional 37,557 shares in the last quarter. TD Asset Management Inc. lifted its position in Just Energy Group by 5.8% during the first quarter. TD Asset Management Inc. now owns 4,455,040 shares of the utilities provider’s stock worth $15,106,000 after buying an additional 245,500 shares in the last quarter. Bank of Montreal Can lifted its position in Just Energy Group by 0.7% during the fourth quarter. Bank of Montreal Can now owns 3,634,804 shares of the utilities provider’s stock worth $11,995,000 after buying an additional 23,659 shares in the last quarter. Vanguard Group Inc lifted its position in Just Energy Group by 0.3% during the third quarter. Vanguard Group Inc now owns 2,365,855 shares of the utilities provider’s stock worth $7,335,000 after buying an additional 7,266 shares in the last quarter. Finally, Morgan Stanley lifted its position in Just Energy Group by 43.1% during the third quarter. Morgan Stanley now owns 2,073,164 shares of the utilities provider’s stock worth $6,427,000 after buying an additional 624,612 shares in the last quarter. Hedge funds and other institutional investors own 28.87% of the company’s stock.

About Just Energy Group

Just Energy Group Inc, through its subsidiaries, provides electricity, natural gas, and renewable energy solutions in the United States, Canada, the United Kingdom, Ireland, Germany, and Japan. It operates through Consumer Energy and Commercial Energy segments. The company offers various home and business energy solutions, including long-term fixed-price, variable-price, and flat-bill solutions to residential and commercial customers.

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