Today The Just Energy Group, Inc. (JE) Upgraded by Zacks Investment Research to “Buy”

Today The Just Energy Group, Inc. (JE) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Just Energy Group, Inc. (NYSE:JE) (TSE:JE) from a hold rating to a buy rating in a report issued on Thursday morning. The firm currently has $6.25 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 brokerages also recently issued reports on JE. Canaccord Genuity reiterated a buy rating on shares of Just Energy Group in a report on Monday, December 12th. FBR & Co set a $8.00 target price on Just Energy Group and gave the stock a buy rating in a research note on Tuesday, December 13th. RBC Capital Markets restated a sector perform rating and set a $8.00 target price (down from $8.50) on shares of Just Energy Group in a research note on Friday, November 11th. Finally, TD Securities upgraded Just Energy Group from a hold rating to a buy rating and boosted their target price for the stock from $8.50 to $9.50 in a research note on Wednesday, October 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $8.38.

Shares of Just Energy Group (NYSE:JE) traded up 1.05% during mid-day trading on Thursday, reaching $5.80. The company’s stock had a trading volume of 9,935 shares. The firm has a market cap of $857.19 million, a P/E ratio of 3.61 and a beta of 1.32. The firm’s 50-day moving average price is $5.46 and its 200 day moving average price is $5.49. Just Energy Group has a 12-month low of $4.86 and a 12-month high of $6.83.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were paid a dividend of $0.0924 per share. The ex-dividend date was Tuesday, December 13th. This represents a $0.37 annualized dividend and a yield of 6.44%. Just Energy Group’s dividend payout ratio (DPR) is 30.33%.

A number of hedge funds and other institutional investors have recently made changes to their positions in JE. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Just Energy Group by 28.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,353,150 shares of the company’s stock valued at $27,087,000 after buying an additional 1,170,150 shares during the period. Bank of Montreal Can increased its position in shares of Just Energy Group by 9.4% in the third quarter. Bank of Montreal Can now owns 4,919,795 shares of the company’s stock valued at $24,944,000 after buying an additional 424,255 shares during the period. Vanguard Group Inc. increased its position in shares of Just Energy Group by 14.5% in the second quarter. Vanguard Group Inc. now owns 2,336,516 shares of the company’s stock valued at $14,205,000 after buying an additional 296,430 shares during the period. Royal Bank of Canada increased its position in shares of Just Energy Group by 11.0% in the second quarter. Royal Bank of Canada now owns 1,627,587 shares of the company’s stock valued at $9,895,000 after buying an additional 161,534 shares during the period. Finally, AGF Investments Inc. increased its position in shares of Just Energy Group by 35.5% in the third quarter. AGF Investments Inc. now owns 1,281,838 shares of the company’s stock valued at $6,494,000 after buying an additional 335,986 shares during the period. Hedge funds and other institutional investors own 28.13% of the company’s stock.

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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