Genie Energy Ltd. (NYSE:GNE – Get Free Report)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.30 and traded as high as $15.99. Genie Energy shares last traded at $15.9140, with a volume of 96,850 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on GNE shares. Freedom Capital lowered shares of Genie Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Genie Energy in a research report on Monday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.
Check Out Our Latest Stock Analysis on Genie Energy
Genie Energy Price Performance
Genie Energy (NYSE:GNE – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The company had revenue of $100.40 million during the quarter, compared to analysts’ expectations of $104.57 million. Genie Energy had a return on equity of 12.80% and a net margin of 5.05%.
Genie Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Friday, August 14th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, August 14th. Genie Energy’s payout ratio is 37.04%.
Institutional Investors Weigh In On Genie Energy
A number of large investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP lifted its stake in shares of Genie Energy by 92.9% in the first 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. Kahn Brothers Group Inc. bought a new stake in shares of Genie Energy during the 2nd quarter worth $2,474,655. Public Employees Retirement System of Ohio bought a new stake in shares of Genie Energy during the 2nd quarter worth $175,000. Empowered Funds LLC acquired a new position in Genie Energy in the 1st quarter valued at $204,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Genie Energy by 5.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock valued at $3,001,000 after buying an additional 10,044 shares during the last quarter. Institutional investors own 49.15% of the company’s stock.
Genie Energy Company Profile
Genie Energy Ltd. is an energy services company that provides electricity and natural gas to residential and small-business customers. Through its retail energy operations, the company offers customers energy supply plans and related services in deregulated markets, where consumers can choose an independent supplier rather than purchasing directly from a regulated utility.
The company also operates businesses focused on renewable energy and other energy-related solutions. Its offerings have included residential and commercial solar products, solar project development and installation services, and energy management or advisory services.
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