Algert Global LLC Has $158,000 Stock Position in Genie Energy Ltd. $GNE

Key Points

• Algert Global LLC has reduced its stake in Genie Energy Ltd. by 72.9% during Q1, selling 28,245 shares and now holding 10,488 shares worth $158,000.
• In contrast, several institutional investors, including J. Goldman & Co LP and UBS AM, have increased their positions in Genie Energy, indicating a mixed sentiment among investors.
• Genie Energy has announced a quarterly dividend of $0.075 per share, representing a yield of 2.0%, despite having a high dividend payout ratio of 214.29%.

Algert Global LLC lowered its position in Genie Energy Ltd. (NYSE:GNE - Free Report) by 72.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,488 shares of the oil and gas producer's stock after selling 28,245 shares during the quarter. Algert Global LLC's holdings in Genie Energy were worth $158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. J. Goldman & Co LP lifted its holdings in shares of Genie Energy by 14.8% during the fourth quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer's stock worth $10,543,000 after purchasing an additional 87,206 shares during the period. Nuveen LLC acquired a new position in shares of Genie Energy during the first quarter worth $1,195,000. GSA Capital Partners LLP lifted its holdings in shares of Genie Energy by 3.4% during the first quarter. GSA Capital Partners LLP now owns 59,596 shares of the oil and gas producer's stock worth $897,000 after purchasing an additional 1,948 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Genie Energy by 39.7% during the fourth quarter. Two Sigma Investments LP now owns 59,103 shares of the oil and gas producer's stock worth $921,000 after purchasing an additional 16,788 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Genie Energy by 112.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,057 shares of the oil and gas producer's stock worth $734,000 after purchasing an additional 24,937 shares during the period. Institutional investors and hedge funds own 49.15% of the company's stock.

Genie Energy Trading Up 1.7%

NYSE GNE traded up $0.25 during trading hours on Friday, hitting $15.33. 150,678 shares of the company's stock were exchanged, compared to its average volume of 230,821. The stock has a 50-day simple moving average of $20.38 and a 200 day simple moving average of $18.18. Genie Energy Ltd. has a 1-year low of $13.05 and a 1-year high of $28.47. The firm has a market cap of $409.54 million, a price-to-earnings ratio of 109.52 and a beta of 0.11. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04.

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

Genie Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 11th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, August 11th. Genie Energy's dividend payout ratio is 214.29%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Genie Energy from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 17th.

About Genie Energy

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.