Genie Energy Ltd. (NYSE:GNE) Announces $0.07 Quarterly Dividend

Key Points

• Genie Energy declared a quarterly dividend of $0.075 per share, payable August 24 to shareholders of record on August 14, implying an annualized payout of approximately $0.30 and a 2.1% yield.
• In its latest quarter, Genie Energy reported earnings of $0.43 per share, beating analysts’ $0.25 estimate, while revenue of $100.4 million fell short of the $104.57 million consensus.
• Genie Energy shares traded up 3.2% to $14.58, and institutional investors—including hedge funds—own approximately 49.15% of the company.

Genie Energy Ltd. (NYSE:GNE - Get Free Report) declared a quarterly dividend on Thursday, August 6th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.075 per share by the oil and gas producer on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, August 14th.

Genie Energy has decreased its dividend payment by an average of 0.0%annually over the last three years.

Genie Energy Trading Up 3.2%

NYSE GNE opened at $14.58 on Friday. 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 firm's fifty day moving average price is $14.18 and its 200 day moving average price is $14.12. The company has a market capitalization of $384.82 million, a price-to-earnings ratio of 29.75 and a beta of 0.20. Genie Energy has a 12 month low of $12.69 and a 12 month high of $18.92.

Genie Energy (NYSE:GNE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.18. Genie Energy had a net margin of 3.22% and a return on equity of 9.72%. The firm had revenue of $100.40 million during the quarter, compared to analysts' expectations of $104.57 million.

Hedge Funds Weigh In On Genie Energy

A number of large investors have recently bought and sold shares of the company. Strs Ohio raised its stake in shares of Genie Energy by 2.6% during the 4th quarter. Strs Ohio now owns 39,800 shares of the oil and gas producer's stock worth $548,000 after buying an additional 1,000 shares during the last quarter. First Trust Advisors LP grew its stake in Genie Energy by 1.6% in the 4th quarter. First Trust Advisors LP now owns 66,180 shares of the oil and gas producer's stock valued at $912,000 after acquiring an additional 1,049 shares during the last quarter. Bailard Inc. grew its stake in Genie Energy by 8.5% in the 4th quarter. Bailard Inc. now owns 19,139 shares of the oil and gas producer's stock valued at $264,000 after acquiring an additional 1,500 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Genie Energy by 236.5% during the 4th quarter. State of Alaska Department of Revenue now owns 2,830 shares of the oil and gas producer's stock valued at $38,000 after acquiring an additional 1,989 shares in the last quarter. Finally, Quarry LP acquired a new position in Genie Energy during the third quarter worth about $35,000. Hedge funds and other institutional investors own 49.15% of the company's stock.

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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