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

Zacks Investment Research upgraded shares of Just Energy Group (NYSE:JE) (TSE:JE) from a hold rating to a buy rating in a research report released on Saturday, Zacks.com reports. The firm currently has $2.50 price target on the utilities provider’s 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. “

Several other equities research analysts have also recently weighed in on JE. B. Riley set a $6.00 price objective on shares of Just Energy Group and gave the stock a buy rating in a research report on Friday, August 16th. Canaccord Genuity cut shares of Just Energy Group to a hold rating in a research report on Saturday, November 2nd. CIBC increased their price objective on shares of Just Energy Group from $2.00 to $2.25 in a research report on Tuesday, November 5th. ValuEngine upgraded shares of Just Energy Group from a hold rating to a buy rating in a research report on Wednesday, October 2nd. Finally, Liberum Capital reiterated a buy rating on shares of Just Energy Group in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $4.15.

Shares of JE traded up $0.01 during trading hours on Friday, hitting $2.28. 356,225 shares of the stock were exchanged, compared to its average volume of 650,938. Just Energy Group has a fifty-two week low of $1.08 and a fifty-two week high of $4.42. The company has a debt-to-equity ratio of 22.52, a current ratio of 0.92 and a quick ratio of 0.91. The business has a 50-day moving average of $2.19 and a 200-day moving average of $2.94. The firm has a market capitalization of $339.09 million, a P/E ratio of 19.00 and a beta of 1.20.

Just Energy Group (NYSE:JE) (TSE:JE) last posted its quarterly earnings data on Wednesday, August 14th. The utilities provider reported ($1.82) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm had revenue of $670.17 million for the quarter, compared to analyst estimates of $911.86 million. During the same quarter last year, the company earned ($0.45) earnings per share. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, analysts forecast that Just Energy Group will post -0.19 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of JE. Bank of Montreal Can lifted its stake in shares of Just Energy Group by 12.2% in the second quarter. Bank of Montreal Can now owns 3,311,477 shares of the utilities provider’s stock valued at $14,240,000 after buying an additional 359,953 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Just Energy Group by 4.8% in the second quarter. Vanguard Group Inc. now owns 2,658,311 shares of the utilities provider’s stock valued at $11,430,000 after buying an additional 122,284 shares in the last quarter. Advisors Capital Management LLC lifted its stake in shares of Just Energy Group by 4.9% in the second quarter. Advisors Capital Management LLC now owns 2,482,844 shares of the utilities provider’s stock valued at $10,676,000 after buying an additional 116,852 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Just Energy Group by 13.3% in the second quarter. Renaissance Technologies LLC now owns 1,590,070 shares of the utilities provider’s stock valued at $6,837,000 after buying an additional 186,700 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its stake in shares of Just Energy Group by 4.0% in the second quarter. Intact Investment Management Inc. now owns 1,058,800 shares of the utilities provider’s stock valued at $5,887,000 after buying an additional 40,800 shares in the last quarter. Institutional investors and hedge funds own 29.41% 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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