Genie Energy Ltd. (NYSE:GNE – Get Free Report)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $14.08 and traded as high as $14.65. Genie Energy shares last traded at $14.2950, with a volume of 77,775 shares.
Analyst Ratings Changes
A number of analysts have recently issued reports on GNE shares. Freedom Capital upgraded shares of Genie Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Wall Street Zen cut shares of Genie Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings raised shares of Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.
View Our Latest Analysis on GNE
Genie Energy Trading Down 2.0%
Genie Energy (NYSE:GNE – Get Free Report) last issued its earnings results on Thursday, May 14th. The oil and gas producer reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. Genie Energy had a return on equity of 9.72% and a net margin of 3.22%.The company had revenue of $142.31 million during the quarter, compared to the consensus estimate of $114.23 million.
Genie Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 22nd were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.30 annualized dividend and a dividend yield of 2.2%. Genie Energy’s dividend payout ratio is presently 61.22%.
Institutional Trading of Genie Energy
Several hedge funds and other institutional investors have recently modified their holdings of the stock. J. Goldman & Co LP grew its position in shares of Genie Energy by 325.4% in the fourth quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer’s stock valued at $11,097,000 after purchasing an additional 616,017 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Genie Energy during the third quarter worth approximately $4,546,000. JPMorgan Chase & Co. lifted its holdings in Genie Energy by 362.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 145,845 shares of the oil and gas producer’s stock worth $3,920,000 after purchasing an additional 114,283 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Genie Energy by 1,040.2% during the 3rd quarter. Victory Capital Management Inc. now owns 104,538 shares of the oil and gas producer’s stock worth $1,563,000 after purchasing an additional 95,370 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Genie Energy by 92.9% in the 1st quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer’s stock valued at $2,174,000 after purchasing an additional 74,046 shares during the period. Institutional investors own 49.15% of the company’s stock.
About Genie Energy
Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.
Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.
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