JPMorgan Chase & Co. Purchases New Stake in Just Energy Group, Inc. (NYSE:JE)

JPMorgan Chase & Co. acquired a new stake in shares of Just Energy Group, Inc. (NYSE:JE) (TSE:JE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,724 shares of the utilities provider’s stock, valued at approximately $174,000.

A number of other institutional investors have also recently made changes to their positions in JE. Guggenheim Capital LLC purchased a new position in shares of Just Energy Group during the fourth quarter valued at approximately $124,000. Campbell & CO Investment Adviser LLC raised its position in shares of Just Energy Group by 45.9% in the first quarter. Campbell & CO Investment Adviser LLC now owns 20,103 shares of the utilities provider’s stock valued at $126,000 after buying an additional 6,323 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Just Energy Group by 289.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,748 shares of the utilities provider’s stock valued at $136,000 after buying an additional 16,166 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in shares of Just Energy Group during the first quarter valued at approximately $166,000. Finally, Nine Chapters Capital Management LLC purchased a new position in shares of Just Energy Group during the first quarter valued at approximately $177,000. 29.43% of the stock is owned by institutional investors and hedge funds.

Just Energy Group, Inc. (JE) opened at 5.60 on Friday. The stock has a market cap of $822.04 million, a price-to-earnings ratio of 15.30 and a beta of 1.05. Just Energy Group, Inc. has a 52-week low of $4.83 and a 52-week high of $6.35. The stock has a 50 day moving average price of $5.27 and a 200 day moving average price of $5.68.

Just Energy Group (NYSE:JE) (TSE:JE) last issued its quarterly earnings data on Wednesday, May 17th. The utilities provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.11. The company had revenue of $715.64 million for the quarter, compared to analysts’ expectations of $815.35 million. Just Energy Group had a negative return on equity of 117.41% and a net margin of 2.18%. Analysts expect that Just Energy Group, Inc. will post $0.78 EPS for the current fiscal year.

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Several brokerages have commented on JE. HC Wainwright set a $10.00 price objective on Just Energy Group and gave the company a “buy” rating in a research report on Friday, August 11th. FBR & Co reissued a “buy” rating and set a $7.50 price objective on shares of Just Energy Group in a research report on Wednesday, June 14th. Canaccord Genuity lowered Just Energy Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 18th. Zacks Investment Research raised Just Energy Group from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research report on Wednesday, July 12th. Finally, ValuEngine lowered Just Energy Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $8.29.

About Just Energy Group

Just Energy Group Inc (Just Energy) is an energy management solutions provider engaged in electricity, natural gas, solar and green energy. The Company’s segments include Consumer Energy and Commercial Energy. The Company operates in the United States, Canada and the United Kingdom, offering a range of energy products, including long-term fixed-price, variable rate and flat bill programs; home energy management services, including smart thermostats and tools to manage energy use at the appliance level, and residential solar panel installations.

Institutional Ownership by Quarter for Just Energy Group (NYSE:JE)

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