Quantinno Capital Management LP Buys 74,046 Shares of Genie Energy Ltd. $GNE

Key Points

• Quantinno Capital Management increased its Genie Energy stake by 92.9%, purchasing 74,046 additional shares to own 153,773 shares, valued at approximately $2.17 million. Institutional investors collectively own 49.15% of the company.
• Genie Energy reported quarterly earnings of $0.43 per share, beating analyst expectations of $0.25, while revenue of $100.4 million fell short of the $104.57 million consensus estimate.
• The company declared a quarterly dividend of $0.075 per share, equivalent to an annualized $0.30 payout and a 2.1% yield. Shares recently traded at $14.41, and analysts’ average rating is “Buy.”

Quantinno Capital Management LP raised its stake in Genie Energy Ltd. (NYSE:GNE - Free Report) by 92.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,773 shares of the oil and gas producer's stock after purchasing an additional 74,046 shares during the quarter. Quantinno Capital Management LP owned approximately 0.58% of Genie Energy worth $2,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GNE. The Manufacturers Life Insurance Company bought a new position in shares of Genie Energy in the second quarter valued at $214,000. PharVision Advisers LLC bought a new stake in Genie Energy during the third quarter worth $209,000. New York State Common Retirement Fund raised its position in Genie Energy by 98.3% during the second quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer's stock worth $206,000 after acquiring an additional 3,800 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Genie Energy in the fourth quarter valued at $159,000. Finally, Virtus Advisers LLC acquired a new stake in Genie Energy in the third quarter valued at $124,000. Institutional investors own 49.15% of the company's stock.

Genie Energy Trading Down 1.0%

Shares of NYSE:GNE opened at $14.41 on Tuesday. The business's 50 day simple moving average is $14.20 and its 200 day simple moving average is $14.12. Genie Energy Ltd. has a 1 year low of $12.69 and a 1 year high of $16.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.54 and a quick ratio of 2.44. The company has a market capitalization of $380.42 million, a P/E ratio of 29.41 and a beta of 0.20.

Genie Energy (NYSE:GNE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.18. The firm had revenue of $100.40 million during the quarter, compared to analysts' expectations of $104.57 million. Genie Energy had a return on equity of 13.00% and a net margin of 4.95%.

Genie Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Friday, August 14th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 14th. Genie Energy's payout ratio is 61.22%.

Analyst Upgrades and Downgrades

GNE has been the subject of a number of analyst reports. Freedom Capital raised shares of Genie Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. Wall Street Zen cut shares of Genie Energy from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Genie Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy".

About Genie Energy

Genie Energy Ltd. NYSE: GNE is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel's Shefela basin and Jordan's oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.

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