Just Energy Group (NYSE:JE) Downgraded to “Underperform” at Royal Bank of Canada

Royal Bank of Canada lowered shares of Just Energy Group (NYSE:JE) (TSE:JE) from a sector perform rating to an underperform rating in a research report report published on Wednesday morning, Briefing.com Automated Import reports.

Several other brokerages also recently commented on JE. Morgan Stanley reaffirmed an underweight rating on shares of Just Energy Group in a research report on Monday, July 20th. Canaccord Genuity reaffirmed a hold rating and issued a $0.70 price target (down from $1.50) on shares of Just Energy Group in a research report on Monday, April 13th. ValuEngine downgraded Just Energy Group from a sell rating to a strong sell rating in a research report on Wednesday, July 8th. Finally, CIBC dropped their price target on Just Energy Group from $0.75 to $0.50 and set a neutral rating on the stock in a research report on Friday, July 10th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Just Energy Group presently has a consensus rating of Hold and an average target price of $1.29.

JE opened at $0.36 on Wednesday. The business has a 50 day moving average price of $0.48 and a 200 day moving average price of $0.71. Just Energy Group has a twelve month low of $0.34 and a twelve month high of $3.56.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Just Energy Group during the fourth quarter valued at approximately $64,000. Goldman Sachs Group Inc. increased its position in shares of Just Energy Group by 106.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 52,668 shares of the utilities provider’s stock valued at $88,000 after purchasing an additional 27,182 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Just Energy Group during the first quarter valued at approximately $143,000. Norges Bank bought a new stake in shares of Just Energy Group during the fourth quarter valued at approximately $1,385,000. Finally, Renaissance Technologies LLC increased its position in shares of Just Energy Group by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,774,870 shares of the utilities provider’s stock valued at $2,982,000 after purchasing an additional 46,000 shares during the period. Institutional investors and hedge funds own 17.02% of the company’s stock.

About Just Energy Group

Just Energy Group Inc, through its subsidiaries, provides electricity and natural gas commodities in the United States, Canada, and internationally. It operates through Consumer Energy and Commercial Energy segments. The company offers longer-term price-protected, flat-bill, and variable rate product offerings.

Recommended Story: Moving Average Convergence Divergence (MACD)

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.