Weiss Asset Management LP Reduces Holdings in Just Energy Group Inc (NYSE:JE)

Weiss Asset Management LP trimmed its holdings in shares of Just Energy Group Inc (NYSE:JE) (TSE:JE) by 11.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,490 shares of the utilities provider’s stock after selling 7,698 shares during the period. Weiss Asset Management LP’s holdings in Just Energy Group were worth $251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE grew its stake in Just Energy Group by 245.9% in the 4th quarter. Bank of America Corp DE now owns 33,343 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 23,703 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Just Energy Group in the 2nd quarter worth approximately $134,000. DekaBank Deutsche Girozentrale purchased a new stake in Just Energy Group in the 1st quarter worth approximately $207,000. Campbell & CO Investment Adviser LLC purchased a new stake in Just Energy Group in the 2nd quarter worth approximately $231,000. Finally, Acadian Asset Management LLC grew its stake in Just Energy Group by 47.1% in the 1st quarter. Acadian Asset Management LLC now owns 191,100 shares of the utilities provider’s stock worth $648,000 after acquiring an additional 61,200 shares during the period. 28.97% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on the stock. Canaccord Genuity raised shares of Just Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. CIBC raised shares of Just Energy Group from an “underperform” rating to a “hold” rating in a research note on Thursday, August 22nd. ValuEngine cut shares of Just Energy Group from a “sell” rating to a “strong sell” rating in a research note on Monday, July 29th. B. Riley set a $6.00 target price on shares of Just Energy Group and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, TheStreet cut shares of Just Energy Group from a “c-” rating to a “d” rating in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.75.

JE stock traded up $0.18 during midday trading on Monday, hitting $1.68. The stock had a trading volume of 130,161 shares, compared to its average volume of 1,774,766. The firm has a market cap of $238.88 million, a PE ratio of 14.13 and a beta of 1.11. The company’s 50-day moving average price is $2.18 and its 200 day moving average price is $3.33. Just Energy Group Inc has a 12-month low of $1.08 and a 12-month high of $4.42. The company has a debt-to-equity ratio of 22.52, a current ratio of 0.92 and a quick ratio of 0.91.

Just Energy Group (NYSE:JE) (TSE:JE) last announced its quarterly earnings results on Wednesday, August 14th. The utilities provider reported ($1.82) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($1.89). The company had revenue of $670.17 million during the quarter, compared to analyst estimates of $911.86 million. Just Energy Group had a negative net margin of 9.76% and a negative return on equity of 325.10%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.45) EPS. As a group, sell-side analysts anticipate that Just Energy Group Inc will post -1.38 EPS for the current year.

Just Energy Group Profile

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

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