Just Energy Group Inc. (JE:CA) Moves Ahead 2.4% in Early Trading to Lead TSX Composite Utilities Stocks on August 19

Just Energy Group Inc. (JE:CA) is one of the best performing stocks in the utilities sector of the S&P/TSX Composite Index shortly after the opening bell on August 19. Shares of JE:CA have climbed 2.4% about 30 minutes into the session to $7.26 after closing the day prior at $7.09. It’s early, but the stock has traded as high as $7.26 and as low as $7.08 so far. Today’s quick advance has come with about 170,463 shares changing hands, compared to an average 30-day volume of 291,171 for Just Energy Group Inc.. The price is currently below the 30-day volume weighted average price of $7.16 for JE:CA.

The share appreciation gives the company a market capitalization of $1.05 billion based upon 147.77 million shares outstanding. It also means that Just Energy Grou has a price-to-book ratio of 5.72:1 and a price-to-earnings ratio of 2.5:1.

In the past 52 weeks, shares of JE:CA have traded as low as $6.735 and as high as $10.22. Technical traders will take note that at $7.26, shares of JE:CA are trading below their 200-day MA at $8.25 and below their 50-day MA at $7.96. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is Just Energy Grou?

Just Energy Group Inc is a retail energy company. It is engaged in the sale of natural gas and electricity to residential and commercial customers under long-term fixed-price, price protected or variable-priced contracts. The company’s 1450 employees are led by CEO James Lewis / Deborah Merril from the corporate headquarters at Suite 200.

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.

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