Genie Energy (NYSE:GNE) Reaches New 12-Month High - Time to Buy?

Genie Energy Ltd. (NYSE:GNE - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $25.40 and last traded at $25.15, with a volume of 56280 shares. The stock had previously closed at $24.91.

Wall Street Analysts Forecast Growth

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

Genie Energy Trading Up 1.2%

The firm has a market capitalization of $684.14 million, a PE ratio of 182.00 and a beta of 0.12. 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 business has a fifty day moving average price of $18.75 and a two-hundred day moving average price of $16.11.

Genie Energy (NYSE:GNE - Get Free Report) last released its quarterly 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 during the quarter. Genie Energy had a return on equity of 10.16% and a net margin of 3.41%.

Genie Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, May 19th. Genie Energy's dividend payout ratio is presently 214.29%.

Insider Transactions at Genie Energy

In related news, Director Allan Sass sold 2,920 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $17.72, for a total transaction of $51,742.40. Following the transaction, the director now owns 38,690 shares of the company's stock, valued at approximately $685,586.80. This represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.40% of the company's stock.

Hedge Funds Weigh In On Genie Energy

Hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in Genie Energy during the 1st quarter worth about $85,000. Wells Fargo & Company MN lifted 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 in the last quarter. Ascent Group LLC acquired a new position in Genie Energy during the 1st quarter worth about $158,000. PDT Partners LLC acquired a new position in Genie Energy during the 4th quarter worth about $174,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Genie Energy in the 4th quarter valued at about $209,000. Institutional investors and hedge funds 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.