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 note published on Wednesday, Briefing.com Automated Import reports.
A number of other equities research analysts have also recently issued reports on the company. Canaccord Genuity reiterated a hold rating and issued a $0.70 target price (down from $1.50) on shares of Just Energy Group in a research note on Monday, April 13th. ValuEngine cut Just Energy Group from a sell rating to a strong sell rating in a research note on Wednesday, July 8th. CIBC cut their target price on Just Energy Group from $0.75 to $0.50 and set a neutral rating on the stock in a research note on Friday, July 10th. Finally, Morgan Stanley reiterated an underweight rating on shares of Just Energy Group in a research note on Monday, July 20th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Just Energy Group presently has an average rating of Hold and an average price target of $1.29.
JE stock opened at $0.36 on Wednesday. Just Energy Group has a 1 year low of $0.34 and a 1 year high of $3.56. The stock’s fifty day moving average is $0.48 and its two-hundred day moving average is $0.71.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Just Energy Group during the fourth quarter valued at about $64,000. Renaissance Technologies LLC raised its stake 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 in the last quarter. Clear Harbor Asset Management LLC bought a new stake in shares of Just Energy Group during the first quarter valued at about $143,000. Finally, Norges Bank acquired a new position in Just Energy Group during the fourth quarter worth about $1,385,000. Institutional investors and hedge funds own 17.02% of the company’s stock.
Just Energy Group Company Profile
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.
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