In a new note to investors on August 9, an analyst has provided a rating update for the Utilities sector company, Just Energy (TSX: JE). Analyst Sophie Karp from Guggenheim reiterated a Buy rating, with a C$7 price target on August 9.
According to TipRanks.com, Karp is a 3-star analyst with an average return of 7.5% and a 55.6% success rate. Karp covers the Utilities sector, focusing on stocks such as Ormat Technologies, Spark Energy, and Avangrid.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Just Energy with a C$5.42 average price target.
Based on Just Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$41.38 million. In comparison, last year the company had a net profit of C$104 million.
Just Energy Group, Inc. engages in the provision of electricity and natural gas commodities, energy efficient solutions, and renewable energy options. It operates through the Consumer Energy, and Commercial Energy segments. The Consumer Energy segment includes cash and cash equivalents, as well as the long-term debt.
The company’s shares closed on Monday at C$4.32, close to its 52-week low of C$4.27.
