Kahn Brothers Group Inc. bought a new position in shares of Genie Energy Ltd. (NYSE:GNE – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 175,011 shares of the oil and gas producer’s stock, valued at approximately $2,474,655. Genie Energy accounts for approximately 0.0% of Kahn Brothers Group Inc.’s holdings, making the stock its 3rd biggest position. Kahn Brothers Group Inc. owned 0.66% of Genie Energy at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of GNE. Quantinno Capital Management LP grew its position in shares of 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 worth $2,174,000 after buying an additional 74,046 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Genie Energy in the third quarter worth about $391,000. Deutsche Bank AG grew its stake in shares of Genie Energy by 38.0% in the fourth quarter. Deutsche Bank AG now owns 19,158 shares of the oil and gas producer’s stock worth $264,000 after acquiring an additional 5,280 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Genie Energy in the fourth quarter valued at approximately $251,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Genie Energy during the 4th quarter worth $230,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.
Genie Energy Price Performance
Shares of NYSE:GNE traded down $0.07 during trading hours on Friday, hitting $14.84. 55,505 shares of the company’s stock traded hands, compared to its average volume of 71,496. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.75 and a current ratio of 2.89. The company has a market cap of $390.59 million, a price-to-earnings ratio of 18.32 and a beta of 0.20. Genie Energy Ltd. has a 52 week low of $12.69 and a 52 week high of $16.28. The company’s fifty day simple moving average is $14.43 and its two-hundred day simple moving average is $14.20.
Genie Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Friday, August 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.0%. Genie Energy’s dividend payout ratio (DPR) is 37.04%.
Analysts Set New Price Targets
GNE has been the topic of a number of recent research reports. Wall Street Zen downgraded Genie Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Freedom Capital lowered Genie Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings upgraded Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.
Check Out Our Latest Analysis on GNE
Genie Energy Company Profile
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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