Martingale Asset Management L P Increases Stock Holdings in Genie Energy Ltd. (NYSE:GNE)

Martingale Asset Management L P increased its position in Genie Energy Ltd. (NYSE:GNE - Free Report) by 113.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,414 shares of the oil and gas producer's stock after buying an additional 41,623 shares during the period. Martingale Asset Management L P owned 0.29% of Genie Energy worth $1,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Genie Energy in the 4th quarter worth about $37,000. SG Americas Securities LLC bought a new position in Genie Energy during the 4th quarter valued at $107,000. Wells Fargo & Company MN boosted its holdings in Genie Energy by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer's stock worth $120,000 after acquiring an additional 1,699 shares during the last quarter. Pictet Asset Management Holding SA bought a new stake in shares of Genie Energy in the 4th quarter worth $209,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Genie Energy in the fourth quarter valued at about $256,000. 49.15% of the stock is owned by institutional investors.

Genie Energy Stock Performance

Shares of GNE traded down $0.01 on Thursday, reaching $15.09. 33,035 shares of the company's stock traded hands, compared to its average volume of 80,627. The stock's 50 day simple moving average is $14.68 and its two-hundred day simple moving average is $15.15. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. Genie Energy Ltd. has a 52-week low of $13.05 and a 52-week high of $17.93. The stock has a market cap of $407.45 million, a PE ratio of 107.97 and a beta of 0.04.

Genie Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, February 18th. Genie Energy's dividend payout ratio (DPR) is currently 214.29%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Genie Energy from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th.

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.