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

Nuveen Asset Management LLC decreased its position in Genie Energy Ltd. (NYSE:GNE - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 hedge funds have also added to or reduced their stakes in the company. J. Goldman & Co LP boosted its holdings in Genie Energy by 14.8% in the fourth quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer's stock valued at $10,543,000 after acquiring an additional 87,206 shares during the last quarter. Deutsche Bank AG grew its position in shares of Genie Energy by 4,503.7% during the 4th quarter. Deutsche Bank AG now owns 13,673 shares of the oil and gas producer's stock worth $213,000 after buying an additional 13,376 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in shares of Genie Energy during the 4th quarter worth about $238,000. Bank of America Corp DE grew its position in shares of Genie Energy by 77.0% during the 4th quarter. Bank of America Corp DE now owns 29,880 shares of the oil and gas producer's stock worth $466,000 after buying an additional 13,001 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Genie Energy by 22.2% during the 4th quarter. BNP Paribas Financial Markets now owns 34,288 shares of the oil and gas producer's stock worth $535,000 after buying an additional 6,236 shares during the period. Institutional investors own 49.15% of the company's stock.

Insider Activity

In other news, Director Allan Sass sold 2,920 shares of Genie Energy stock in a transaction dated 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 $685,586.80. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.40% of the stock is currently owned by company insiders.

Genie Energy Trading Up 1.0%

Shares of Genie Energy stock traded up $0.23 during trading on Friday, hitting $22.92. 127,323 shares of the company were exchanged, compared to its average volume of 82,148. The firm has a market capitalization of $615.20 million, a P/E ratio of 163.70 and a beta of 0.12. Genie Energy Ltd. has a 1-year low of $13.05 and a 1-year high of $23.00. The firm's fifty day moving average price is $17.03 and its 200 day moving average price is $15.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47.

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

Genie Energy Dividend Announcement

The firm also recently disclosed 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. This represents a $0.30 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Monday, May 19th. Genie Energy's dividend payout ratio (DPR) 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 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.