Zacks Investment Research downgraded shares of Just Energy Group (NYSE:JE) (TSE:JE) from a hold rating to a sell rating in a research note released on Tuesday.
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 equities research analysts have also commented on the company. B. Riley set a $6.00 price target on Just Energy Group and gave the stock a buy rating in a research report on Friday, August 10th. CIBC lowered Just Energy Group from a sector outperform rating to a neutral rating in a research report on Friday, August 10th. HC Wainwright set a $7.00 price target on Just Energy Group and gave the stock a buy rating in a research report on Friday, August 10th. ValuEngine lowered Just Energy Group from a sell rating to a strong sell rating in a research report on Thursday, August 2nd. Finally, Canaccord Genuity downgraded Just Energy Group from a buy rating to a hold rating and set a $3.86 price objective for the company. in a report on Thursday, May 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $5.72.
Just Energy Group (NYSE:JE) (TSE:JE) last released its quarterly earnings results on Wednesday, May 16th. The utilities provider reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. The company had revenue of $802.97 million for the quarter, compared to analyst estimates of $839.07 million. Just Energy Group had a negative return on equity of 745.08% and a net margin of 9.98%. research analysts anticipate that Just Energy Group will post 0.53 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of JE. Advisors Capital Management LLC grew its stake in Just Energy Group by 0.7% in the first quarter. Advisors Capital Management LLC now owns 1,807,362 shares of the utilities provider’s stock valued at $7,952,000 after purchasing an additional 12,912 shares in the last quarter. CLARET ASSET MANAGEMENT Corp grew its stake in Just Energy Group by 43.0% in the first quarter. CLARET ASSET MANAGEMENT Corp now owns 55,143 shares of the utilities provider’s stock valued at $243,000 after purchasing an additional 16,585 shares in the last quarter. Millennium Management LLC grew its stake in Just Energy Group by 39.5% in the fourth quarter. Millennium Management LLC now owns 78,442 shares of the utilities provider’s stock valued at $337,000 after purchasing an additional 22,220 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Just Energy Group in the first quarter valued at approximately $109,000. Finally, Hsbc Holdings PLC bought a new position in Just Energy Group in the first quarter valued at approximately $116,000. Institutional investors and hedge funds own 24.85% of the company’s stock.
About Just Energy Group
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.
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