Bank of America Corp DE boosted its position in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 77.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,880 shares of the oil and gas producer's stock after buying an additional 13,001 shares during the quarter. Bank of America Corp DE owned approximately 0.11% of Genie Energy worth $466,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GNE. Martingale Asset Management L P raised its stake in shares of Genie Energy by 113.1% during the 4th quarter. Martingale Asset Management L P now owns 78,414 shares of the oil and gas producer's stock worth $1,222,000 after buying an additional 41,623 shares during the period. Trexquant Investment LP purchased a new position in Genie Energy during the fourth quarter valued at $281,000. BNP Paribas Financial Markets grew its position in shares of Genie Energy by 22.2% in the fourth quarter. BNP Paribas Financial Markets now owns 34,288 shares of the oil and gas producer's stock valued at $535,000 after purchasing an additional 6,236 shares during the period. WINTON GROUP Ltd grew its position in shares of Genie Energy by 207.0% in the fourth quarter. WINTON GROUP Ltd now owns 37,564 shares of the oil and gas producer's stock valued at $586,000 after purchasing an additional 25,329 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Genie Energy by 24.3% during the fourth quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer's stock worth $2,599,000 after purchasing an additional 32,630 shares in the last quarter. Hedge funds and other institutional investors own 49.15% of the company's stock.
Genie Energy Price Performance
NYSE GNE traded up $0.42 during mid-day trading on Friday, hitting $24.84. The stock had a trading volume of 100,029 shares, compared to its average volume of 88,176. The firm's 50 day moving average is $17.70 and its 200 day moving average is $15.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. The stock has a market capitalization of $666.85 million, a price-to-earnings ratio of 177.44 and a beta of 0.11. Genie Energy Ltd. has a twelve month low of $13.05 and a twelve month high of $24.85.
Genie Energy (NYSE:GNE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 EPS for the quarter. The business had revenue of $136.81 million during the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%.
Genie Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 annualized dividend and a dividend yield of 1.21%. Genie Energy's dividend payout ratio is presently 214.29%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded Genie Energy from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 7th.
Get Our Latest Stock Analysis on Genie Energy
Insider Buying and Selling
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 stock was sold at an average price of $17.72, for a total transaction of $51,742.40. Following the completion of the sale, the director now owns 38,690 shares of the company's stock, valued at $685,586.80. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.40% of the stock is owned by company insiders.
About Genie Energy
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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.
Further Reading
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