RBC Still Sees Doom And Gloom in Just Energy (JE) Stock [Yahoo! Finance News]
JUST ENERGY GROUP (JE)
Last just energy group earnings: 2/10 07:00 am
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justenergygroup.com
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Source: Yahoo! Finance News
Toronto, Canada-based Just Energy Group (JE) is a natural gas and electric utility -- not the sexiest kind of business in the world, in other words. Detracting further from its attractiveness, Just Energy is only an occasionally profitable business, having lost money in three of the past six quarters, and made money in the other three, but overall, having lost $287 million more than it made.So why did Just Energy stock double in Thursday trading, closing at $0.56 per share?The answer is that on Wednesday, Just Energy announced that the U.S. Federal Energy Regulatory Commission (FERC) finally gave its blessing to the Company’s previously announced "Recapitalization Transaction," whereby $320 million of the company's debt load (comprising both convertible debt and preferred shares) will be converted into common stock, $75 million in new capital will be injected into the company, and $410 million in other debt will have its due dates for repayment pushed back.Just Energy is also settling
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