Strs Ohio Acquires Shares of 33,200 Genie Energy Ltd. $GNE

Key Points

• Strs Ohio purchased 33,200 shares of Genie Energy Ltd. for approximately $500,000, representing a 0.12% stake in the company.
• Genie Energy recently declared a quarterly dividend of $0.075 per share, yielding 2.0% annually, with a payout ratio of 214.29%.
• Wall Street analyst ratings for Genie Energy have shifted from a "strong-buy" to a "buy" rating, indicating a potential cautious outlook on the stock's performance.

Strs Ohio purchased a new stake in Genie Energy Ltd. (NYSE:GNE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 33,200 shares of the oil and gas producer's stock, valued at approximately $500,000. Strs Ohio owned 0.12% of Genie Energy as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in Genie Energy in the 1st quarter valued at approximately $85,000. Ascent Group LLC purchased a new stake in shares of Genie Energy during the 1st quarter worth approximately $158,000. Deutsche Bank AG lifted its stake in Genie Energy by 4,503.7% in the 4th quarter. Deutsche Bank AG now owns 13,673 shares of the oil and gas producer's stock valued at $213,000 after buying an additional 13,376 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Genie Energy in the 4th quarter valued at approximately $238,000. Finally, Significant Wealth Partners LLC lifted its stake in Genie Energy by 20.6% in the 1st quarter. Significant Wealth Partners LLC now owns 15,668 shares of the oil and gas producer's stock valued at $236,000 after buying an additional 2,675 shares in the last quarter. Hedge funds and other institutional investors own 49.15% of the company's stock.

Genie Energy Stock Up 8.3%

NYSE GNE traded up $1.23 during trading hours on Monday, hitting $16.09. The company had a trading volume of 590,010 shares, compared to its average volume of 150,841. Genie Energy Ltd. has a fifty-two week low of $13.05 and a fifty-two week high of $28.47. The company has a market capitalization of $429.76 million, a price-to-earnings ratio of 114.93 and a beta of 0.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.99 and a quick ratio of 1.85. The firm's 50 day moving average is $17.14 and its 200 day moving average is $18.24.

Genie Energy (NYSE:GNE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter. Genie Energy had a return on equity of 6.40% and a net margin of 1.82%.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Monday, August 11th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, August 11th. Genie Energy's dividend payout ratio is presently 214.29%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Genie Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 6th.

Genie Energy 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.