Genie Energy (NYSE:GNE) Sets New 52-Week High - Should You Buy?

Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $21.90 and last traded at $20.92, with a volume of 92698 shares trading hands. The stock had previously closed at $21.14.

Analysts Set New Price Targets

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.

Genie Energy Trading Up 1.0%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56. The firm has a market cap of $615.20 million, a price-to-earnings ratio of 163.70 and a beta of 0.12. The business has a fifty day simple moving average of $16.89 and a 200-day simple moving average of $15.51.

Genie Energy (NYSE:GNE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 EPS for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%. The business had revenue of $136.81 million for the quarter.

Genie Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 annualized dividend and a dividend yield of 1.31%. Genie Energy's dividend payout ratio is 214.29%.

Insider Buying and Selling

In other news, Director Allan Sass sold 2,920 shares of Genie Energy stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $17.72, for a total value of $51,742.40. Following the completion of the transaction, the director now directly owns 38,690 shares of the company's stock, valued at approximately $685,586.80. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Genie Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer's stock valued at $19,804,000 after acquiring an additional 39,749 shares during the period. J. Goldman & Co LP boosted its stake in shares of Genie Energy by 14.8% during the 4th quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer's stock valued at $10,543,000 after purchasing an additional 87,206 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Genie Energy by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 430,370 shares of the oil and gas producer's stock valued at $6,712,000 after purchasing an additional 9,283 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Genie Energy by 24.3% in the 4th quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer's stock worth $2,599,000 after acquiring an additional 32,630 shares in the last quarter. Finally, Americana Partners LLC lifted its holdings in shares of Genie Energy by 37.8% during the fourth quarter. Americana Partners LLC now owns 159,200 shares of the oil and gas producer's stock valued at $2,482,000 after purchasing an additional 43,655 shares during the last quarter. Institutional investors own 49.15% of the company's stock.

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.