Millennium Management LLC reduced its position in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,409 shares of the oil and gas producer's stock after selling 10,925 shares during the quarter. Millennium Management LLC owned 0.20% of Genie Energy worth $848,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Legal & General Group Plc boosted its stake in Genie Energy by 7.7% in the 4th quarter. Legal & General Group Plc now owns 19,166 shares of the oil and gas producer's stock worth $299,000 after purchasing an additional 1,375 shares during the period. American Century Companies Inc. boosted its stake 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 purchasing an additional 1,566 shares during the period. Wells Fargo & Company MN boosted its stake 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 purchasing an additional 1,699 shares during the period. Barclays PLC boosted its stake in Genie Energy by 12.8% in 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 period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Genie Energy by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,701 shares of the oil and gas producer's stock worth $230,000 after acquiring an additional 3,119 shares in the last quarter. 49.15% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, Wall Street Zen raised Genie Energy from a "buy" rating to a "strong-buy" rating in a report on Wednesday, May 7th.
Read Our Latest Research Report on Genie Energy
Genie Energy Stock Performance
NYSE:GNE opened at $22.92 on Friday. The stock's fifty day moving average is $17.03 and its 200 day moving average is $15.56. Genie Energy Ltd. has a fifty-two week low of $13.05 and a fifty-two week high of $23.00. The firm has a market capitalization of $615.20 million, a PE ratio of 163.70 and a beta of 0.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56.
Genie Energy (NYSE:GNE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share for the quarter. Genie Energy had a return on equity of 21.48% and a net margin of 0.80%. The company had revenue of $136.81 million for the quarter.
Genie Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.31%. Genie Energy's payout ratio is 214.29%.
Insiders Place Their Bets
In other 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 transaction, the director now owns 38,690 shares in the company, valued at approximately $685,586.80. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 17.40% of the company's stock.
Genie Energy Profile
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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.
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