Genie Energy (NYSE:GNE) Sets New 1-Year High - Should You Buy?

Genie Energy Ltd. (NYSE:GNE - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $23.21 and last traded at $23.14, with a volume of 63724 shares trading hands. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

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

Genie Energy Stock Performance

The firm has a 50 day moving average price of $17.33 and a 200 day moving average price of $15.66. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. The stock has a market cap of $643.23 million, a PE ratio of 171.16 and a beta of 0.11.

Genie Energy (NYSE:GNE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (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 during the quarter.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, May 19th. Genie Energy's dividend payout ratio is presently 214.29%.

Insider Buying and Selling

In related news, Director Allan Sass sold 2,920 shares of the business's stock in a transaction dated 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 owns 38,690 shares of the company's stock, valued at $685,586.80. This represents a 7.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. acquired a new stake in Genie Energy in the 4th quarter worth approximately $238,000. Two Sigma Investments LP raised its stake in shares of Genie Energy by 39.7% in the 4th quarter. Two Sigma Investments LP now owns 59,103 shares of the oil and gas producer's stock valued at $921,000 after buying an additional 16,788 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Genie Energy in the fourth quarter worth about $588,000. Martingale Asset Management L P grew its stake in shares of Genie Energy by 113.1% in the 4th quarter. Martingale Asset Management L P now owns 78,414 shares of the oil and gas producer's stock valued at $1,222,000 after purchasing an additional 41,623 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of Genie Energy during the 4th quarter worth approximately $281,000. 49.15% of the stock is currently owned by institutional investors and hedge funds.

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.