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

Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s share price 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. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

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

Genie Energy Stock Up 1.9%

The stock's fifty day moving average price is $17.70 and its 200 day moving average price is $15.77. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock has a market cap of $668.20 million, a P/E ratio of 177.80 and a beta of 0.11.

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

Genie Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 1.21%. Genie Energy's payout ratio is currently 214.29%.

Insider Transactions at Genie Energy

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 transaction, the director now owns 38,690 shares in the company, valued at $685,586.80. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.40% of the stock is currently owned by company insiders.

Institutional Trading of Genie Energy

A number of hedge funds have recently made changes to their positions in GNE. Cubist Systematic Strategies LLC purchased a new position in Genie Energy in the first quarter worth about $85,000. SG Americas Securities LLC bought a new stake in shares of Genie Energy during the fourth quarter valued at approximately $107,000. Wells Fargo & Company MN raised its holdings in Genie Energy by 28.2% in 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 during the last quarter. Ascent Group LLC bought a new position in Genie Energy in the 1st quarter valued at approximately $158,000. Finally, PDT Partners LLC purchased a new stake in Genie Energy during the 4th quarter valued at $174,000. 49.15% of the stock is owned by institutional investors.

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.