Just Energy Group (NYSE:JE) Upgraded to “Hold” at Zacks Investment Research

Just Energy Group (NYSE:JE) (TSE:JE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

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 subject of a number of other reports. CIBC raised Just Energy Group from an “underperform” rating to a “hold” rating in a research note on Thursday, August 22nd. ValuEngine raised Just Energy Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. B. Riley set a $6.00 target price on Just Energy Group and gave the company a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada reissued a “hold” rating on shares of Just Energy Group in a research note on Friday, August 16th. Finally, Canaccord Genuity cut Just Energy Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Just Energy Group presently has an average rating of “Hold” and a consensus price target of $5.75.

Shares of Just Energy Group stock opened at $2.37 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 22.52. Just Energy Group has a 12 month low of $1.08 and a 12 month high of $4.42. The business has a fifty day simple moving average of $1.76 and a 200 day simple moving average of $3.06. The stock has a market cap of $349.69 million, a PE ratio of 19.75 and a beta of 1.22.

Just Energy Group (NYSE:JE) (TSE:JE) last announced its quarterly earnings data on Wednesday, August 14th. The utilities provider reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($1.89). Just Energy Group had a negative return on equity of 325.10% and a negative net margin of 9.76%. The company had revenue of $670.17 million for the quarter, compared to analyst estimates of $911.86 million. During the same period last year, the firm earned ($0.45) earnings per share. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts expect that Just Energy Group will post -1.38 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Bank of Montreal Can boosted its position in shares of Just Energy Group by 12.2% during the second quarter. Bank of Montreal Can now owns 3,311,477 shares of the utilities provider’s stock worth $14,240,000 after buying an additional 359,953 shares during the period. Vanguard Group Inc. boosted its position in shares of Just Energy Group by 4.8% during the second quarter. Vanguard Group Inc. now owns 2,658,311 shares of the utilities provider’s stock worth $11,430,000 after buying an additional 122,284 shares during the period. Advisors Capital Management LLC boosted its position in shares of Just Energy Group by 4.9% during the second quarter. Advisors Capital Management LLC now owns 2,482,844 shares of the utilities provider’s stock worth $10,676,000 after buying an additional 116,852 shares during the period. Renaissance Technologies LLC boosted its position in shares of Just Energy Group by 13.3% during the second quarter. Renaissance Technologies LLC now owns 1,590,070 shares of the utilities provider’s stock worth $6,837,000 after buying an additional 186,700 shares during the period. Finally, Intact Investment Management Inc. boosted its position in shares of Just Energy Group by 4.0% during the second quarter. Intact Investment Management Inc. now owns 1,058,800 shares of the utilities provider’s stock worth $5,887,000 after buying an additional 40,800 shares during the period. 28.94% of the stock is owned by hedge funds and other institutional investors.

Just Energy Group Company Profile

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.

Featured Story: Accumulation/Distribution

Get a free copy of the Zacks research report on Just Energy Group (JE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Just Energy Group (NYSE:JE)

Receive News & Ratings for Just Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Just Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit