Nuveen Asset Management LLC Sells 32,960 Shares of Genie Energy Ltd. (NYSE:GNE)

Nuveen Asset Management LLC decreased its position in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,292 shares of the oil and gas producer's stock after selling 32,960 shares during the period. Nuveen Asset Management LLC owned 0.30% of Genie Energy worth $1,283,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GNE. Legal & General Group Plc raised its position in shares of Genie Energy by 7.7% during the 4th quarter. Legal & General Group Plc now owns 19,166 shares of the oil and gas producer's stock valued at $299,000 after purchasing an additional 1,375 shares during the period. American Century Companies Inc. increased 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 buying an additional 1,566 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Genie Energy by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer's stock valued at $120,000 after acquiring an additional 1,699 shares during the period. Barclays PLC raised its holdings in Genie Energy by 12.8% during the fourth quarter. Barclays PLC now owns 23,247 shares of the oil and gas producer's stock valued at $363,000 after acquiring an additional 2,630 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Genie Energy by 26.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,701 shares of the oil and gas producer's stock valued at $230,000 after acquiring an additional 3,119 shares in the last quarter. Hedge funds and other institutional investors own 49.15% of the company's stock.

Genie Energy Price Performance

GNE traded up $0.23 during trading on Friday, reaching $22.92. 127,323 shares of the company traded hands, compared to its average volume of 82,272. The company has a market cap of $615.20 million, a P/E ratio of 163.70 and a beta of 0.12. The firm has a fifty day simple moving average of $16.89 and a 200 day simple moving average of $15.51. Genie Energy Ltd. has a 12-month low of $13.05 and a 12-month high of $22.99. 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 issued 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 return on equity of 21.48% and a net margin of 0.80%. The firm had revenue of $136.81 million during the quarter.

Genie Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors 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 yield of 1.31%. The ex-dividend date of this dividend was Monday, May 19th. Genie Energy's payout ratio 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 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 transaction, the director now directly owns 38,690 shares of the company's stock, valued at $685,586.80. This trade represents a 7.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 17.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.