Zacks Investment Research downgraded shares of Just Energy (NYSE:JE) (TSE:JE) from a strong-buy rating to a hold rating in a report released on Thursday morning.
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 analysts have also recently commented on the stock. CIBC raised shares of Just Energy from a neutral rating to an outperform rating in a report on Thursday, February 8th. Royal Bank of Canada raised shares of Just Energy from a sector perform rating to an outperform rating in a report on Monday, December 18th. Canaccord Genuity raised shares of Just Energy from a hold rating to a buy rating in a report on Thursday, February 8th. ValuEngine cut shares of Just Energy from a buy rating to a hold rating in a report on Friday, February 2nd. Finally, HC Wainwright set a $10.00 target price on shares of Just Energy and gave the company a buy rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $7.13.
Just Energy (NYSE:JE) (TSE:JE) last issued its quarterly earnings data on Wednesday, February 7th. The utilities provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.74. The business had revenue of $718.30 million during the quarter, compared to the consensus estimate of $776.79 million. Just Energy had a net margin of 5.74% and a negative return on equity of 214.69%. equities research analysts forecast that Just Energy will post 1.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a $0.097 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 8.78%. Just Energy’s payout ratio is 118.18%.
Just Energy declared that its Board of Directors has approved a share repurchase plan on Thursday, March 15th that allows the company to repurchase 9,730,000 outstanding shares. This repurchase authorization allows the utilities provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Several institutional investors have recently made changes to their positions in JE. Jane Street Group LLC acquired a new position in Just Energy in the 4th quarter valued at $524,000. Millennium Management LLC increased its stake in Just Energy by 39.5% in the 4th quarter. Millennium Management LLC now owns 78,442 shares of the utilities provider’s stock valued at $337,000 after buying an additional 22,220 shares during the period. Paloma Partners Management Co acquired a new position in Just Energy in the 4th quarter valued at $864,000. Goldman Sachs Group Inc. increased its stake in Just Energy by 128.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 650,081 shares of the utilities provider’s stock valued at $2,788,000 after buying an additional 365,614 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new position in Just Energy in the 4th quarter valued at $674,000. 30.46% of the stock is currently owned by institutional investors and hedge funds.
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About Just Energy
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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