RBC Capital Sticks to Its Hold Rating for Just Energy

By Ryan Adsit

Wall Street analyst has provided a review for the Utilities company yesterday, but retained the same rating on the stock. Just Energy (TSX: JE) received a Hold rating from RBC Capital’s analyst Nelson Ng, with a C$7.50 price target.

According to TipRanks.com, Ng is a 4-star analyst with an average return of 18.6% and a 84.6% success rate. Ng covers the Utilities sector, focusing on stocks such as Atlantic Power Corp, Abengoa Yield PLC, and Pattern Energy.

Currently, the analyst consensus on Just Energy is Moderate Buy and the average price target is C$9.25, representing a 28.1% upside.

In a report issued on May 17, CIBC also reiterated a Hold rating on the stock.

Just Energy’s market cap is currently C$1.07B and has a P/E ratio of 2.1.

Just Energy Group, Inc. engages in the sale of natural gas and electricity to residential and commercial customers under long-term fixed-price, price-protected or variable-priced contracts and green energy products. It specializes in electricity, natural gas and solar and green energy. The company operates through three divisions: Consumer Division, Commercial Division and Residential Solar Division. The Consumer Division provides services to residential and small commercial customers. The Commercial Division provides services to mid-size commercial customers. The Residential Solar sells complementary energy management solutions to solar customers. Just Energy Group was founded by Rebecca MacDonald in July 1997 and is headquartered in Mississauga, Canada.

The company’s shares closed last Friday at $7.22.