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Lookback: Miller Value Partners 2019 Just Energy Group (JE) Thesis

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Alex Smith
·3 min read
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If you are looking for the best ideas for your portfolio you may want to consider some of Miller Value Partners top stock picks. Miller Value Partners, an investment management firm, is bullish on Just Energy Group Inc. (NYSE:JE) stock. In its Income Strategy Q3 2019 investor letter – you can download a copy here – the firm discussed its investment thesis on Just Energy Group Inc. (NYSE:JE) stock. Just Energy Group Inc. (NYSE:JE) is an energy management solutions provider engaged in electricity, natural gas, solar and green energy.

On October 21, 2019, Miller Value Partners had released its Income Strategy Q3 2019 investor letter. The investment firm said that Just Energy Group Inc. (NYSE:JE) was one of the biggest detractors to its performance in Q3 2019. Just Energy Group Inc. (NYSE:JE) stock has posted a return of -94.4% in the trailing one year period, underperforming the S&P 500 Index which returned 15.1% in the same period. This suggests that the investment firm was wrong in its decision.

Miller Income Strategy fund posted a return of 2.69% in the third quarter of 2019, outperforming the S&P 500 Index which returned 1.87% in the same quarter. Let’s take a look at comments made by Miller Value Partners about Just Energy Group Inc. (NYSE:JE) stock in the Q3 2019 investor letter.

"Just Energy Group (JE) was the top detractor over the quarter falling 44.23%. The company reported EBITDA of C$24M (USD $18M), missing consensus of C$39M (USD $30M) on lower-than-expected revenues and announced a suspension to the dividend while the strategic review remains ongoing. Management lowered full-year EBITDA guidance to C$180M-C$200M (USD $137M-$152M) from C$220M-C$240M (USD $168M-$183M) and free cash flow to C$50M-C$70M (USD $38M-$53M) from C$90M-C$100M (USD $69M-$76M)."

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electricity, pylon, network, lines, tower, steel, caution, high, grid, power, engineering, watt, infrastructure, cable, light, supply, distribution, voltage, technology, energy, volt,

chungking/Shutterstock.com

In September 2020, we published an article revealing Miller Value Partners' bullish investment thesis on Just Energy Group Inc. (NYSE:JE) stock in its Q2 2019 investor letter. This suggests that the investment firm has been bullish for a long time on Just Energy Group Inc. (NYSE:JE).

In Q3 2020, the number of bullish hedge fund positions on Just Energy Group Inc. (NYSE:JE) stock remained unchanged from the previous quarter (see the chart here). Our calculations showed that Just Energy Group Inc. (NYSE:JE) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.