Deutsche Bank AG Grows Stock Holdings in Genie Energy Ltd. (NYSE:GNE)

Deutsche Bank AG lifted its holdings in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 4,503.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,673 shares of the oil and gas producer's stock after buying an additional 13,376 shares during the period. Deutsche Bank AG owned approximately 0.05% of Genie Energy worth $213,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Genie Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer's stock valued at $19,804,000 after purchasing an additional 39,749 shares during the period. Geode Capital Management LLC lifted its position in Genie Energy by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 430,370 shares of the oil and gas producer's stock valued at $6,712,000 after purchasing an additional 9,283 shares during the period. Bank of New York Mellon Corp lifted its position in Genie Energy by 24.3% in the fourth quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer's stock valued at $2,599,000 after purchasing an additional 32,630 shares during the period. Americana Partners LLC lifted its position in Genie Energy by 37.8% in the fourth quarter. Americana Partners LLC now owns 159,200 shares of the oil and gas producer's stock valued at $2,482,000 after purchasing an additional 43,655 shares during the period. Finally, Martingale Asset Management L P lifted its position in Genie Energy by 113.1% in the fourth quarter. Martingale Asset Management L P now owns 78,414 shares of the oil and gas producer's stock valued at $1,222,000 after purchasing an additional 41,623 shares during the period. Institutional investors and hedge funds own 49.15% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Genie Energy from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, May 7th.

Genie Energy Stock Performance

NYSE:GNE traded up $0.08 during mid-day trading on Wednesday, reaching $21.75. The stock had a trading volume of 194,782 shares, compared to its average volume of 81,675. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56. The firm has a market capitalization of $583.90 million, a price-to-earnings ratio of 155.37 and a beta of -0.02. Genie Energy Ltd. has a twelve month low of $13.05 and a twelve month high of $22.08. The business has a 50 day simple moving average of $16.60 and a 200 day simple moving average of $15.42.

Genie Energy (NYSE:GNE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.42 EPS for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%. The firm had revenue of $136.81 million during the quarter.

Genie Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a $0.075 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.38%. Genie Energy's dividend payout ratio (DPR) is presently 214.29%.

Insider Buying and Selling at Genie Energy

In other Genie Energy news, Director Allan Sass sold 2,920 shares of Genie Energy stock in a transaction that occurred 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 completion of the sale, the director now directly owns 38,690 shares of the company's stock, valued at approximately $685,586.80. The trade was a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.40% of the stock is currently owned by corporate insiders.

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.