Genie Energy (NYSE:GNE) Reaches New 52-Week High - Here's Why

Genie Energy Ltd. (NYSE:GNE - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.60 and last traded at $20.43, with a volume of 60437 shares traded. The stock had previously closed at $19.66.

Analysts Set New Price Targets

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

Genie Energy Stock Performance

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 company has a market capitalization of $557.05 million, a P/E ratio of 148.22 and a beta of -0.02. The firm has a 50 day moving average price of $15.87 and a two-hundred day moving average price of $15.20.

Genie Energy (NYSE:GNE - Get Free Report) last posted 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 return on equity of 21.48% and a net margin of 0.80%. The business had revenue of $136.81 million for the quarter.

Genie Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a $0.075 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 1.45%. Genie Energy's dividend payout ratio (DPR) is currently 214.29%.

Insider Activity

In related news, Director Allan Sass sold 2,920 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $17.72, for a total value of $51,742.40. Following the completion of the sale, the director now directly owns 38,690 shares in the company, valued at $685,586.80. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genie Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Genie Energy during the fourth quarter worth $37,000. Cubist Systematic Strategies LLC bought a new stake in Genie Energy during the 1st quarter valued at about $85,000. SG Americas Securities LLC bought a new position in Genie Energy in the fourth quarter valued at about $107,000. Wells Fargo & Company MN boosted its position in shares of Genie Energy by 28.2% in the fourth 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 during the period. Finally, Ascent Group LLC purchased a new stake in shares of Genie Energy in the first quarter worth about $158,000. Institutional investors 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.

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