Bailard Inc. acquired a new position in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 22,439 shares of the oil and gas producer's stock, valued at approximately $338,000. Bailard Inc. owned approximately 0.08% of Genie Energy at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Legal & General Group Plc grew its stake in shares of 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 during the last quarter. American Century Companies Inc. increased its holdings in Genie Energy by 4.9% in the 4th 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 increased its holdings in Genie Energy by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer's stock worth $120,000 after acquiring an additional 1,699 shares in the last quarter. Barclays PLC boosted its stake in Genie Energy by 12.8% during the 4th quarter. Barclays PLC now owns 23,247 shares of the oil and gas producer's stock worth $363,000 after purchasing an additional 2,630 shares during the last quarter. Finally, Significant Wealth Partners LLC boosted its stake in Genie Energy by 20.6% during the 1st quarter. Significant Wealth Partners LLC now owns 15,668 shares of the oil and gas producer's stock worth $236,000 after purchasing an additional 2,675 shares during the last quarter. 49.15% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Genie Energy news, Director Allan Sass sold 2,920 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $17.72, for a total value of $51,742.40. Following the sale, the director directly owned 38,690 shares in the company, valued at $685,586.80. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 17.40% of the stock is currently owned by company insiders.
Genie Energy Trading Up 3.0%
Shares of GNE traded up $0.63 during mid-day trading on Monday, hitting $21.14. The company had a trading volume of 129,474 shares, compared to its average volume of 99,417. Genie Energy Ltd. has a 1-year low of $13.05 and a 1-year high of $28.47. The business's 50-day simple moving average is $22.62 and its 200-day simple moving average is $17.52. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.04. The stock has a market cap of $567.47 million, a PE ratio of 150.96 and a beta of 0.19.
Genie Energy (NYSE:GNE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share for the quarter. Genie Energy had a net margin of 3.41% and a return on equity of 10.16%. The firm had revenue of $136.81 million for the quarter.
Genie Energy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, May 19th. Genie Energy's dividend payout ratio (DPR) is presently 214.29%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of Genie Energy from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 7th.
View Our Latest Stock Analysis on GNE
About Genie Energy
(
Free Report)
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.
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