Canaccord Genuity lowered shares of Just Energy (NYSE:JE) (TSE:JE) from a buy rating to a hold rating in a report issued on Thursday morning. Canaccord Genuity currently has $3.86 price objective on the utilities provider’s stock.
A number of other equities analysts also recently commented on the company. CIBC upgraded Just Energy from a neutral rating to an outperform rating in a research note on Thursday, February 8th. ValuEngine upgraded Just Energy from a hold rating to a buy rating in a research note on Tuesday, February 13th. Zacks Investment Research downgraded Just Energy from a strong-buy rating to a hold rating in a research note on Thursday, April 12th. Finally, HC Wainwright set a $10.00 price target on Just Energy and gave the stock a buy rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Just Energy currently has an average rating of Buy and an average target price of $6.52.
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Just Energy opened at $3.60 on Thursday, MarketBeat Ratings reports. The stock has a market capitalization of $534.22 million, a P/E ratio of 3.05 and a beta of 0.80. Just Energy has a one year low of $3.53 and a one year high of $5.91. The company has a debt-to-equity ratio of -4.35, a current ratio of 0.93 and a quick ratio of 0.89.
Just Energy declared that its Board of Directors has approved a share buyback plan on Thursday, March 15th that authorizes the company to repurchase 9,730,000 shares. This repurchase authorization authorizes the utilities provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
A number of hedge funds have recently modified their holdings of JE. Russell Investments Group Ltd. acquired a new position in Just Energy in the first quarter valued at approximately $2,969,000. Goldman Sachs Group Inc. boosted its stake in Just Energy by 128.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 650,081 shares of the utilities provider’s stock valued at $2,788,000 after acquiring an additional 365,614 shares during the period. Paloma Partners Management Co acquired a new position in Just Energy in the fourth quarter valued at approximately $864,000. BlueCrest Capital Management Ltd acquired a new position in Just Energy in the fourth quarter valued at approximately $674,000. Finally, Jane Street Group LLC acquired a new position in Just Energy in the fourth quarter valued at approximately $524,000. Institutional investors own 29.93% of the company’s stock.
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.