Genie Energy Ltd. (NYSE:GNE – Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.10 and traded as high as $14.60. Genie Energy shares last traded at $14.2850, with a volume of 65,655 shares changing hands.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on GNE. Weiss Ratings cut shares of Genie Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 1st. Wall Street Zen cut shares of Genie Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Freedom Capital raised shares of Genie Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.
Read Our Latest Stock Report on GNE
Genie Energy Trading Up 0.5%
Genie Energy (NYSE:GNE – Get Free Report) last announced its earnings results on Thursday, May 14th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04. Genie Energy had a net margin of 3.22% and a return on equity of 9.72%. The business had revenue of $142.31 million for the quarter, compared to analyst estimates of $114.23 million.
Genie Energy Announces Dividend
The business also recently announced 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 was Friday, May 22nd. This represents a $0.30 annualized dividend and a dividend yield of 2.1%. Genie Energy’s dividend payout ratio (DPR) is 61.22%.
Institutional Trading of Genie Energy
Several institutional investors have recently modified their holdings of GNE. Cubist Systematic Strategies LLC acquired a new position in Genie Energy during the first quarter worth about $85,000. Jacobs Levy Equity Management Inc. acquired a new position in Genie Energy during the first quarter worth about $320,000. Dynamic Technology Lab Private Ltd acquired a new position in Genie Energy during the first quarter worth about $239,000. Goldman Sachs Group Inc. boosted its position in Genie Energy by 15.5% during the first quarter. Goldman Sachs Group Inc. now owns 146,364 shares of the oil and gas producer’s stock worth $2,203,000 after acquiring an additional 19,671 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Genie Energy by 128.9% during the first quarter. Jane Street Group LLC now owns 45,372 shares of the oil and gas producer’s stock worth $683,000 after acquiring an additional 25,548 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. (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.
Featured Stories
- Five stocks we like better than Genie Energy
- SpaceX Rings the Bell and Shatters Every Record
- Adobe Stock Just Got Cheaper—Is Wall Street Missing the Story?
- 3 Dividend Stocks Under $50 That Pay You to Wait Out Inflation
- The 127-Gigawatt Problem: Why AI Needs Its Own Power
Receive News & Ratings for Genie Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genie Energy and related companies with MarketBeat.com's FREE daily email newsletter.
