Genie Energy Ltd. (NYSE:GNE) to Issue $0.08 Quarterly Dividend

Key Points

• Genie Energy Ltd. has declared a quarterly dividend of $0.08 per share, with stockholders of record set to be paid on August 19th, and an ex-dividend date of August 11th.
• The company's recent earnings report indicated an earnings per share (EPS) of $0.42 and a revenue of $136.81 million for the quarter.
• Wall Street Zen upgraded Genie Energy's stock rating from "buy" to "strong-buy", indicating positive analyst sentiment towards the company.

Genie Energy Ltd. (NYSE:GNE - Get Free Report) declared a quarterly dividend on Tuesday, August 5th, Wall Street Journal reports. Shareholders of record on Monday, August 11th will be given a dividend of 0.075 per share by the oil and gas producer on Tuesday, August 19th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, August 11th.

Genie Energy Trading Down 2.8%

Genie Energy stock traded down $0.46 during mid-day trading on Friday, hitting $15.63. The stock had a trading volume of 124,943 shares, compared to its average volume of 129,448. Genie Energy has a 12 month low of $13.05 and a 12 month high of $28.47. The stock has a market capitalization of $419.66 million, a PE ratio of 112.14 and a beta of 0.15. The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $22.94 and a two-hundred day simple moving average of $17.99.

Genie Energy (NYSE:GNE - Get Free Report) last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.11 earnings per share for the quarter. Genie Energy had a return on equity of 10.16% and a net margin of 3.41%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Genie Energy from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 7th.

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.