Just Energy Group (JE) Sees Unusually-High Trading Volume

Just Energy Group Inc (NYSE:JE) (TSE:JE) shares saw unusually-strong trading volume on Thursday . Approximately 1,240,542 shares changed hands during trading, an increase of 326% from the previous session’s volume of 291,292 shares.The stock last traded at $3.77 and had previously closed at $3.41.

Several analysts recently commented on JE shares. ValuEngine downgraded Just Energy Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. HC Wainwright set a $7.00 price objective on Just Energy Group and gave the stock a “buy” rating in a research note on Friday, August 10th. CIBC downgraded Just Energy Group from a “sector outperform” rating to a “neutral” rating in a research note on Friday, August 10th. B. Riley set a $6.00 price objective on Just Energy Group and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research downgraded Just Energy Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. 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 stock. The stock currently has an average rating of “Hold” and an average price target of $5.60.

The firm has a market capitalization of $509.10 million, a PE ratio of 3.20 and a beta of 0.11. The company has a quick ratio of 1.34, a current ratio of 1.37 and a debt-to-equity ratio of 3.10.

Just Energy Group (NYSE:JE) (TSE:JE) last released its earnings results on Wednesday, August 8th. The utilities provider reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.11). The firm had revenue of $679.25 million for the quarter, compared to the consensus estimate of $708.65 million. Just Energy Group had a return on equity of 1,815.36% and a net margin of 9.98%. As a group, equities analysts expect that Just Energy Group Inc will post 0.28 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in JE. Guggenheim Capital LLC bought a new position in Just Energy Group during the 1st quarter worth about $317,000. Cubist Systematic Strategies LLC bought a new position in Just Energy Group during the 1st quarter worth about $109,000. Bank of Montreal Can bought a new position in Just Energy Group during the 2nd quarter worth about $8,479,000. Acadian Asset Management LLC bought a new position in Just Energy Group during the 2nd quarter worth about $6,252,000. Finally, Intact Investment Management Inc. increased its holdings in Just Energy Group by 26.6% during the 2nd quarter. Intact Investment Management Inc. now owns 1,282,800 shares of the utilities provider’s stock worth $6,068,000 after purchasing an additional 269,900 shares in the last quarter. Hedge funds and other institutional investors own 23.15% of the company’s stock.

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Just Energy Group Company Profile (NYSE:JE)

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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