Russell Investments Group Ltd. Sells 50,876 Shares of Genie Energy Ltd. $GNE

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. trimmed its position in Genie Energy Ltd. (NYSE:GNE - Free Report) by 87.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,495 shares of the oil and gas producer's stock after selling 50,876 shares during the period. Russell Investments Group Ltd.'s holdings in Genie Energy were worth $113,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. J. Goldman & Co LP lifted its position 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 worth $10,543,000 after purchasing an additional 87,206 shares during the period. Nuveen LLC acquired a new stake in shares of Genie Energy during the 1st quarter valued at $1,195,000. Two Sigma Advisers LP acquired a new stake in shares of Genie Energy during the 4th quarter valued at $588,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Genie Energy by 112.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,057 shares of the oil and gas producer's stock valued at $734,000 after acquiring an additional 24,937 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Genie Energy during the 1st quarter valued at $338,000. 49.15% of the stock is owned by institutional investors.

Genie Energy Trading Down 0.3%

GNE traded down $0.05 during trading on Tuesday, reaching $14.78. 23,875 shares of the company's stock were exchanged, compared to its average volume of 140,075. The company's fifty day moving average price is $18.92 and its 200-day moving average price is $18.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.85 and a current ratio of 1.99. Genie Energy Ltd. has a fifty-two week low of $13.05 and a fifty-two week high of $28.47. The firm has a market capitalization of $394.77 million, a PE ratio of 105.54 and a beta of 0.11.

Genie Energy (NYSE:GNE - Get Free Report) last released its quarterly earnings data 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Monday, August 11th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.30 annualized dividend and a dividend yield of 2.0%. Genie Energy's dividend payout ratio (DPR) is presently 214.29%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Genie Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday.

About Genie Energy

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.