Just Energy Group, Inc. (JE) Sees Large Increase in Short Interest
Just Energy Group, Inc. (NYSE:JE) (TSE:JE) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,647,306 shares, an increase of 66.8% from the August 15th total of 2,186,353 shares. Currently, 3.8% of the shares of the company are sold short. Based on an average daily volume of 141,170 shares, the days-to-cover ratio is presently 25.8 days.
Several equities research analysts have recently issued reports on JE shares. BidaskClub raised Just Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded Just Energy Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. ValuEngine raised Just Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. HC Wainwright set a $10.00 price target on Just Energy Group and gave the company a “buy” rating in a research report on Friday, August 11th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $7.50 price target on shares of Just Energy Group in a research report on Wednesday, June 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $8.29.
Several institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC grew its stake in Just Energy Group by 29.3% in the 2nd quarter. Citadel Advisors LLC now owns 22,022 shares of the utilities provider’s stock valued at $115,000 after buying an additional 4,994 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Just Energy Group by 289.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,748 shares of the utilities provider’s stock valued at $136,000 after buying an additional 16,166 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Just Energy Group in the 2nd quarter valued at about $146,000. Parametric Portfolio Associates LLC grew its stake in Just Energy Group by 15.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 30,518 shares of the utilities provider’s stock valued at $160,000 after buying an additional 4,039 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Just Energy Group in the 1st quarter valued at about $174,000. Institutional investors own 29.19% of the company’s stock.
Shares of Just Energy Group (NYSE:JE) opened at 5.57 on Friday. Just Energy Group has a 1-year low of $4.83 and a 1-year high of $6.35. The company has a 50 day moving average of $5.57 and a 200 day moving average of $5.65. The company has a market cap of $817.63 million, a PE ratio of 14.97 and a beta of 1.04.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.0999 per share. The ex-dividend date is Thursday, September 14th. This is a positive change from Just Energy Group’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 7.18%. Just Energy Group’s payout ratio is currently 800.00%.
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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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