Genie Energy Ltd. $GNE Stake Cut by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its holdings in Genie Energy Ltd. by 87.2% during Q1, owning 7,495 shares worth $113,000 after selling over 50,000 shares.
• Other institutional investors showed increasing confidence, as Wells Fargo raised its stake by 28.2%, while Deutsche Bank increased its stake by 4,503.7% during the same period.
• Genie Energy recently announced a quarterly dividend of $0.075 per share with a yield of 2.0%, despite having a high payout ratio of 214.29%.

Russell Investments Group Ltd. lessened its stake in Genie Energy Ltd. (NYSE:GNE - Free Report) by 87.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,495 shares of the oil and gas producer's stock after selling 50,876 shares during the quarter. Russell Investments Group Ltd.'s holdings in Genie Energy were worth $113,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN increased its holdings 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 valued at $120,000 after buying an additional 1,699 shares during the last quarter. GSA Capital Partners LLP grew its stake in Genie Energy by 3.4% during the 1st quarter. GSA Capital Partners LLP now owns 59,596 shares of the oil and gas producer's stock worth $897,000 after buying an additional 1,948 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Genie Energy by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 41,746 shares of the oil and gas producer's stock valued at $628,000 after buying an additional 2,014 shares in the last quarter. Barclays PLC increased its stake in shares of Genie Energy by 12.8% in the fourth quarter. Barclays PLC now owns 23,247 shares of the oil and gas producer's stock worth $363,000 after acquiring an additional 2,630 shares during the last quarter. Finally, Significant Wealth Partners LLC boosted its holdings in Genie Energy by 20.6% during the first quarter. Significant Wealth Partners LLC now owns 15,668 shares of the oil and gas producer's stock valued at $236,000 after acquiring an additional 2,675 shares during the period. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Genie Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday.

Genie Energy Price Performance

GNE stock traded down $0.28 during trading on Monday, hitting $14.84. 51,844 shares of the company's stock traded hands, compared to its average volume of 140,262. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.85 and a current ratio of 1.99. The stock has a market capitalization of $396.46 million, a price-to-earnings ratio of 106.00 and a beta of 0.11. The business has a fifty day simple moving average of $19.16 and a 200 day simple moving average of $18.21. Genie Energy Ltd. has a 52 week low of $13.05 and a 52 week high of $28.47.

Genie Energy (NYSE:GNE - Get Free Report) last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.11 EPS for the quarter. Genie Energy had a net margin of 1.82% and a return on equity of 6.40%.

Genie Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 11th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, August 11th. Genie Energy's dividend payout ratio (DPR) is currently 214.29%.

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.