Genie Energy (NYSE:GNE) Sets New 52-Week High - Time to Buy?

Genie Energy Ltd. (NYSE:GNE - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $26.56 and last traded at $26.65, with a volume of 45797 shares. The stock had previously closed at $25.98.

Analyst Upgrades and Downgrades

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 Trading Up 4.1%

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.03 and a quick ratio of 1.92. The company has a market capitalization of $726.02 million, a P/E ratio of 193.11 and a beta of 0.11. The firm has a fifty day moving average price of $18.97 and a 200-day moving average price of $16.20.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, May 19th. Genie Energy's dividend payout ratio is 214.29%.

Insider Activity

In other news, Director Allan Sass sold 2,920 shares of Genie Energy stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $17.72, for a total value of $51,742.40. Following the completion of the transaction, the director now owns 38,690 shares in the company, valued at $685,586.80. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.40% of the company's stock.

Institutional Trading of Genie Energy

A number of institutional investors have recently modified their holdings of GNE. Cubist Systematic Strategies LLC bought a new stake in Genie Energy during the 1st quarter valued at $85,000. Wells Fargo & Company MN lifted its holdings 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 purchasing an additional 1,699 shares in the last quarter. Ascent Group LLC purchased a new position in Genie Energy during the 1st quarter valued at about $158,000. PDT Partners LLC bought a new stake in shares of Genie Energy during the fourth quarter valued at about $174,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Genie Energy during the fourth quarter valued at about $209,000. 49.15% of the stock is currently owned by hedge funds and other 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.

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