Mackenzie Financial Corp Sells 22,312 Shares of Genie Energy Ltd. (NYSE:GNE)

Mackenzie Financial Corp reduced its stake in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 37.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,629 shares of the oil and gas producer's stock after selling 22,312 shares during the quarter. Mackenzie Financial Corp owned about 0.14% of Genie Energy worth $587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. R Squared Ltd purchased a new position in shares of Genie Energy in the fourth quarter valued at $37,000. SG Americas Securities LLC purchased a new position in shares of Genie Energy in the fourth quarter valued at $107,000. Wells Fargo & Company MN lifted its position in Genie Energy by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer's stock worth $120,000 after buying an additional 1,699 shares during the last quarter. PDT Partners LLC bought a new stake in Genie Energy in the fourth quarter worth $174,000. Finally, Pictet Asset Management Holding SA bought a new stake in Genie Energy in the fourth quarter worth $209,000. 49.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Genie Energy Stock Up 1.0%

Shares of Genie Energy stock traded up $0.23 during trading on Friday, hitting $22.92. 127,323 shares of the stock traded hands, compared to its average volume of 82,214. The firm has a market cap of $615.20 million, a P/E ratio of 163.70 and a beta of 0.12. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. Genie Energy Ltd. has a 52-week low of $13.05 and a 52-week high of $22.99. The stock's fifty day simple moving average is $17.03 and its 200 day simple moving average is $15.56.

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

Genie Energy Announces Dividend

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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 annualized dividend and a dividend yield of 1.31%. Genie Energy's dividend payout ratio is currently 214.29%.

Insider Activity

In other Genie Energy news, Director Allan Sass sold 2,920 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 38,690 shares in the company, valued at approximately $685,586.80. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 17.40% of the company's stock.

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.