Genie Energy (NYSE:GNE) Issues Quarterly Earnings Results

Key Points

• Genie Energy reported quarterly results that beat expectations, with EPS of $0.14 versus the $0.07 consensus and revenue of $121.6 million compared with $114.2 million, while net margin was 1.0% and ROE 4.47%.
• Shares traded up about 1.9% to $14.23 after the report; the company has a market cap of ~$377 million, a P/E of 17.8, and pays a quarterly dividend of $0.075 (annualized $0.30) for a ~2.1% yield and a 37.5% payout ratio.
• Wall Street consensus remains around a Hold rating despite some upgrades, and institutional ownership has risen notably—about 49% of the stock is held by hedge funds and other institutions.

Genie Energy (NYSE:GNE - Get Free Report) issued its quarterly earnings results on Friday. The oil and gas producer reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07, FiscalAI reports. Genie Energy had a net margin of 1.00% and a return on equity of 4.47%. The company had revenue of $121.59 million during the quarter, compared to analysts' expectations of $114.23 million.

Genie Energy Stock Up 1.9%

Shares of Genie Energy stock traded up $0.26 during trading on Friday, hitting $14.23. 74,551 shares of the stock were exchanged, compared to its average volume of 61,083. The stock has a market cap of $377.02 million, a price-to-earnings ratio of 17.79 and a beta of 0.19. The firm's 50-day moving average price is $14.08 and its 200 day moving average price is $14.32. Genie Energy has a 12-month low of $13.19 and a 12-month high of $28.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.91 and a quick ratio of 1.74.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 18th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 18th. Genie Energy's payout ratio is 37.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Genie Energy in a research report on Thursday, January 22nd. Wall Street Zen cut Genie Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Genie Energy has an average rating of "Hold".

Institutional Investors Weigh In On Genie Energy

Several institutional investors have recently modified their holdings of GNE. J. Goldman & Co LP lifted its position in shares of Genie Energy by 325.4% during the 4th quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer's stock worth $11,097,000 after purchasing an additional 616,017 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Genie Energy during the third quarter worth approximately $4,546,000. JPMorgan Chase & Co. lifted its stake in Genie Energy by 362.1% during the second quarter. JPMorgan Chase & Co. now owns 145,845 shares of the oil and gas producer's stock worth $3,920,000 after purchasing an additional 114,283 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Genie Energy by 1,040.2% during the third quarter. Victory Capital Management Inc. now owns 104,538 shares of the oil and gas producer's stock worth $1,563,000 after purchasing an additional 95,370 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Genie Energy by 336.8% during the second quarter. Bank of America Corp DE now owns 88,063 shares of the oil and gas producer's stock worth $2,367,000 after purchasing an additional 67,901 shares during the last quarter. 49.15% of the stock is owned by hedge funds and other institutional investors.

About Genie Energy

Genie Energy Ltd. NYSE: GNE is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel's Shefela basin and Jordan's oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.

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