Just Energy Group Inc. (JE) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Just Energy Group Inc. (NYSE:JE) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $5.75 price objective on the stock.
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. “
A number of other research firms also recently issued reports on JE. FBR & Co reissued an outperform rating and issued a $8.00 price objective on shares of Just Energy Group in a report on Thursday, July 7th. TD Securities reissued a hold rating and issued a $8.50 price objective on shares of Just Energy Group in a report on Saturday, August 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $8.46.
Shares of Just Energy Group (NYSE:JE) opened at 5.27 on Wednesday. The company has a 50 day moving average of $5.28 and a 200-day moving average of $5.91. The firm has a market cap of $778.77 million, a price-to-earnings ratio of 2.52 and a beta of 1.36. Just Energy Group has a one year low of $4.86 and a one year high of $7.54.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.0961 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date of this dividend was Tuesday, September 13th. Just Energy Group’s dividend payout ratio (DPR) is presently 23.46%.
Several hedge funds have recently modified their holdings of JE. Cubist Systematic Strategies LLC bought a new position in shares of Just Energy Group during the second quarter valued at approximately $105,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Just Energy Group during the second quarter valued at approximately $124,000. Acrospire Investment Management LLC increased its position 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 increased its position 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 increased its position 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 owned by institutional investors.
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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