BlueCrest Capital Management Ltd purchased a new position in Just Energy (NYSE:JE) (TSE:JE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 157,067 shares of the utilities provider’s stock, valued at approximately $674,000. BlueCrest Capital Management Ltd owned about 0.11% of Just Energy as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of JE. Mackenzie Financial Corp lifted its position in shares of Just Energy by 41.9% during the fourth quarter. Mackenzie Financial Corp now owns 85,124 shares of the utilities provider’s stock worth $365,000 after purchasing an additional 25,124 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Just Energy by 94.4% during the fourth quarter. Schroder Investment Management Group now owns 58,465 shares of the utilities provider’s stock valued at $316,000 after buying an additional 28,396 shares during the period. K.J. Harrison & Partners Inc purchased a new position in shares of Just Energy during the fourth quarter valued at $216,000. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Just Energy by 31.2% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 166,875 shares of the utilities provider’s stock valued at $718,000 after buying an additional 39,700 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Just Energy during the third quarter valued at $153,000. Institutional investors own 30.44% of the company’s stock.
JE has been the topic of several research reports. Zacks Investment Research upgraded Just Energy from a “hold” rating to a “strong-buy” rating and set a $5.50 price target on the stock in a research note on Wednesday, February 14th. CIBC upgraded Just Energy from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 8th. Royal Bank of Canada upgraded Just Energy from a “sector perform” rating to an “outperform” rating in a research note on Monday, December 18th. ValuEngine upgraded Just Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. 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 analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $7.13.
Shares of Just Energy stock traded down $0.04 on Friday, reaching $4.49. 195,857 shares of the stock were exchanged, compared to its average volume of 255,252. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of -4.35. Just Energy has a twelve month low of $3.86 and a twelve month high of $6.34. The company has a market capitalization of $672.01, a price-to-earnings ratio of 13.61 and a beta of 0.79.
Just Energy (NYSE:JE) (TSE:JE) last announced its quarterly earnings results on Wednesday, February 7th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.74. Just Energy had a negative return on equity of 214.69% and a net margin of 5.74%. The company had revenue of $718.30 million during the quarter, compared to the consensus estimate of $776.79 million. research analysts anticipate that Just Energy will post 1.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were issued a $0.097 dividend. This represents a $0.39 dividend on an annualized basis and a yield of 8.64%. The ex-dividend date was Wednesday, March 14th. Just Energy’s payout ratio is presently 118.18%.
Just Energy declared that its Board of Directors has initiated 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. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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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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