Genie Energy (NYSE:GNE) Reaches New 12-Month High – What’s Next?

Genie Energy Ltd. (NYSE:GNE)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.40 and last traded at $25.15, with a volume of 56280 shares. The stock had previously closed at $24.91.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Genie Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 7th.

Genie Energy Price Performance

The company has a 50-day moving average of $18.33 and a 200 day moving average of $15.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.92 and a current ratio of 2.03. The firm has a market cap of $675.98 million, a P/E ratio of 179.83 and a beta of 0.12.

Genie Energy (NYSE:GNE) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter. Genie Energy had a return on equity of 10.16% and a net margin of 3.41%. The company had revenue of $136.81 million during the quarter.

Genie Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.19%. The ex-dividend date was Monday, May 19th. Genie Energy’s dividend payout ratio is currently 214.29%.

Insider Buying and Selling at Genie Energy

In related news, Director Allan Sass sold 2,920 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $17.72, for a total transaction of $51,742.40. Following the completion of the sale, the director now directly owns 38,690 shares of the company’s stock, valued at $685,586.80. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Genie Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Americana Partners LLC raised its holdings in shares of Genie Energy by 37.8% in the fourth quarter. Americana Partners LLC now owns 159,200 shares of the oil and gas producer’s stock valued at $2,482,000 after buying an additional 43,655 shares during the last quarter. Bank of New York Mellon Corp increased its position in Genie Energy by 24.3% in the 4th quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer’s stock valued at $2,599,000 after acquiring an additional 32,630 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Genie Energy by 4.9% in the fourth quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer’s stock worth $526,000 after acquiring an additional 1,566 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Genie Energy in the fourth quarter worth about $296,000. Finally, Vanguard Group Inc. raised its stake in shares of Genie Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer’s stock worth $19,804,000 after acquiring an additional 39,749 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Company Profile

Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.