Just Energy has consistently traded in the $9.00 to the $11.00 per share range.About two weeks ago it fell to the $8.00 range.However this was not the end of the story;recently it trades at the $7.50 area.Behind this fall is the release of quarterly results.It was an ordinary report which talked about a 10% increase in the customer base and revenues.The report however compared the 2012 results with 2011 results and gave some very spurious numbers.Noone believed these super -duper comparisons.This gave a shadow to it's quarterly report.However the report went further and talked about a reduction in the dividend;this when the quarterly report showed that the payout ratio has gone down not up.In other words the dividend seems safer now.
The share price fell a little bit on a weekly basis this week.It is possible that shareholders are worried about a dividend reduction in April.I feel that if Just Energy reduces it's dividend and the share price stays in the $7.00 to $7.50 range that the board of Just Energy should look at firing the C.E.O. and the C.F.O.
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