Morgan Stanley Raises Stake in Just Energy Group Inc (JE)

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Morgan Stanley increased its stake in Just Energy Group Inc (NYSE:JE) (TSE:JE) by 43.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,073,164 shares of the utilities provider’s stock after acquiring an additional 624,612 shares during the period. Morgan Stanley owned approximately 1.39% of Just Energy Group worth $6,427,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Allianz Asset Management GmbH increased its position in shares of Just Energy Group by 39,883.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,664,101 shares of the utilities provider’s stock valued at $202,000 after acquiring an additional 4,652,436 shares during the period. CIBC World Markets Inc. boosted its position in shares of Just Energy Group by 8.4% during the 3rd quarter. CIBC World Markets Inc. now owns 206,694 shares of the utilities provider’s stock worth $641,000 after purchasing an additional 16,030 shares during the period. Toronto Dominion Bank boosted its position in Just Energy Group by 20.3% in the 3rd quarter. Toronto Dominion Bank now owns 683,372 shares of the utilities provider’s stock valued at $2,121,000 after buying an additional 115,402 shares during the period. Man Group plc raised its stake in Just Energy Group by 4.2% during the 3rd quarter. Man Group plc now owns 935,053 shares of the utilities provider’s stock worth $2,901,000 after acquiring an additional 37,600 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Just Energy Group by 54.2% in the third quarter. Bank of Montreal Can now owns 3,611,145 shares of the utilities provider’s stock valued at $11,194,000 after purchasing an additional 1,268,787 shares during the period. Institutional investors and hedge funds own 25.90% of the company’s stock.

Shares of NYSE JE opened at $3.44 on Wednesday. The stock has a market capitalization of $511.35 million, a price-to-earnings ratio of 2.92 and a beta of 0.60. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.12 and a current ratio of 1.16. Just Energy Group Inc has a twelve month low of $2.80 and a twelve month high of $5.09.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a $0.0941 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.38 annualized dividend and a dividend yield of 10.95%. This is a positive change from Just Energy Group’s previous quarterly dividend of $0.09. Just Energy Group’s dividend payout ratio is currently 32.20%.

A number of equities analysts have recently weighed in on JE shares. Royal Bank of Canada lowered shares of Just Energy Group from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, December 12th. TD Securities reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Just Energy Group in a report on Thursday, November 8th. Canaccord Genuity upgraded shares of Just Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. ValuEngine raised shares of Just Energy Group from a “strong sell” rating to a “sell” rating in a research report on Friday, November 23rd. Finally, B. Riley set a $6.00 price objective on shares of Just Energy Group and gave the stock a “buy” rating in a research note on Friday, November 9th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Just Energy Group currently has an average rating of “Hold” and a consensus price target of $5.47.

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About Just Energy Group

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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