Genie Energy Ltd. (NYSE:GNE) Director Sells $51,742.40 in Stock

Genie Energy Ltd. (NYSE:GNE) Director Allan Sass sold 2,920 shares of the 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 sale, the director now owns 38,690 shares of the company’s stock, valued at approximately $685,586.80. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Genie Energy Stock Up 0.9%

Shares of NYSE GNE opened at $19.40 on Wednesday. The firm has a market cap of $520.81 million, a PE ratio of 138.58 and a beta of -0.02. Genie Energy Ltd. has a 12-month low of $13.05 and a 12-month high of $19.79. The company’s fifty day simple moving average is $15.47 and its 200 day simple moving average is $15.12. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01.

Genie Energy (NYSE:GNE) last issued its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $136.81 million for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%.

Genie Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.55%. The ex-dividend date is Monday, May 19th. Genie Energy’s dividend payout ratio is presently 214.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in Genie Energy by 7.7% during the fourth quarter. Legal & General Group Plc now owns 19,166 shares of the oil and gas producer’s stock worth $299,000 after acquiring an additional 1,375 shares in the last quarter. American Century Companies Inc. boosted its stake in Genie Energy by 4.9% during 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 in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Genie Energy by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 1,699 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Genie Energy by 3.4% in the first quarter. GSA Capital Partners LLP now owns 59,596 shares of the oil and gas producer’s stock valued at $897,000 after buying an additional 1,948 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Genie Energy by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 41,746 shares of the oil and gas producer’s stock valued at $628,000 after buying an additional 2,014 shares in the last quarter. 49.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Genie Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 7th.

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.