Genie Energy (NYSE:GNE) Cut to "Buy" at Wall Street Zen

Key Points

• Genie Energy was downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating, indicating a shift in analysts' confidence regarding the stock.
• As of Friday, Genie Energy's stock opened at $15.12, significantly below its 1-year high of $28.47.
• Institutional investors currently hold 49.15% of Genie Energy's stock, with notable increases in stakes from several hedge funds during the 2nd quarter.

Wall Street Zen lowered shares of Genie Energy (NYSE:GNE - Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Genie Energy Trading Down 2.0%

Shares of GNE stock traded down $0.30 on Friday, reaching $14.82. The company had a trading volume of 136,978 shares, compared to its average volume of 209,347. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04. The stock has a market cap of $395.79 million, a PE ratio of 105.84 and a beta of 0.11. The company has a 50-day moving average of $18.92 and a 200-day moving average of $18.21. Genie Energy has a 12 month low of $13.05 and a 12 month high of $28.47.

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 earnings per share for the quarter. Genie Energy had a net margin of 1.82% and a return on equity of 6.40%.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors 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 yield of 2.0%. Genie Energy's dividend payout ratio (DPR) is presently 214.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GNE. Wells Fargo & Company MN boosted its stake 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. Barclays PLC boosted its stake in Genie Energy by 12.8% during the 4th 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. Price T Rowe Associates Inc. MD boosted its stake in Genie Energy by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,701 shares of the oil and gas producer's stock worth $230,000 after acquiring an additional 3,119 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Genie Energy by 22.2% during the 4th quarter. BNP Paribas Financial Markets now owns 34,288 shares of the oil and gas producer's stock worth $535,000 after acquiring an additional 6,236 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Genie Energy by 77.0% during the 4th quarter. Bank of America Corp DE now owns 29,880 shares of the oil and gas producer's stock worth $466,000 after buying an additional 13,001 shares during the period. Institutional investors own 49.15% of the company's stock.

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.