Zacks Investment Research upgraded shares of Just Energy Group Inc. (NYSE:JE) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $5.75 price target 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. “
JE has been the topic of several other reports. TD Securities upgraded Just Energy Group from a hold rating to a buy rating and raised their target price for the company from $8.50 to $9.50 in a report on Wednesday, October 12th. FBR & Co restated a buy rating on shares of Just Energy Group in a report on Saturday, September 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $8.63.
Just Energy Group (NYSE:JE) opened at 5.37 on Wednesday. The firm’s 50-day moving average price is $5.26 and its 200-day moving average price is $5.90. The company has a market cap of $793.55 million, a P/E ratio of 2.57 and a beta of 1.36. Just Energy Group has a 12-month low of $4.86 and a 12-month high of $7.54.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.0961 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 7.16%. Just Energy Group’s payout ratio is presently 23.46%.
Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in Just Energy Group during the second quarter worth approximately $105,000. Dynamic Technology Lab Private Ltd acquired a new position in Just Energy Group during the second quarter worth approximately $124,000. Acrospire Investment Management LLC raised its position in Just Energy Group by 93.0% in the second quarter. Acrospire Investment Management LLC now owns 24,851 shares of the company’s stock worth $151,000 after buying an additional 11,978 shares during the last quarter. Creative Planning raised its position in Just Energy Group by 5.4% in the second quarter. Creative Planning now owns 26,350 shares of the company’s stock worth $160,000 after buying an additional 1,350 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Just Energy Group by 662.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,392 shares of the company’s stock worth $165,000 after buying an additional 23,800 shares during the last quarter. Institutional investors and hedge funds own 27.60% of the company’s stock.
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.