Genie Energy (NYSE:GNE) Hits New 1-Year High - Here's Why

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

Analysts Set New Price Targets

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

Genie Energy Trading Up 0.4%

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 stock has a market capitalization of $583.90 million, a P/E ratio of 155.37 and a beta of -0.02. The business has a 50 day simple moving average of $16.73 and a 200-day simple moving average of $15.46.

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

Genie Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a $0.075 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.38%. Genie Energy's payout ratio is currently 214.29%.

Insider Activity

In related news, Director Allan Sass sold 2,920 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $17.72, for a total transaction of $51,742.40. Following the completion of the sale, the director now directly owns 38,690 shares in the company, valued at approximately $685,586.80. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genie Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNE. Cubist Systematic Strategies LLC purchased a new position in shares of Genie Energy during the 1st quarter valued at $85,000. SG Americas Securities LLC acquired a new position in Genie Energy in the 4th quarter worth about $107,000. Wells Fargo & Company MN raised its stake in shares of 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 purchasing an additional 1,699 shares in the last quarter. Ascent Group LLC purchased a new stake in shares of Genie Energy during the 1st quarter worth about $158,000. Finally, PDT Partners LLC acquired a new stake in shares of Genie Energy during the 4th quarter valued at about $174,000. Hedge funds and other 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.