Genie Energy (NYSE:GNE) Hits New 12-Month High - Should You Buy?

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

Analyst Upgrades and Downgrades

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

Genie Energy Stock Down 3.3%

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 firm has a market capitalization of $723.42 million, a price-to-earnings ratio of 192.45 and a beta of 0.12. The stock has a fifty day moving average of $19.95 and a 200-day moving average of $16.53.

Genie Energy (NYSE:GNE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $136.81 million for 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 announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Monday, May 19th. Genie Energy's payout ratio is 214.29%.

Insider Buying and Selling

In other news, Director Allan Sass sold 2,920 shares of the firm's 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 owns 38,690 shares of the company's stock, valued at $685,586.80. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 17.40% of the company's stock.

Institutional Trading of Genie Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Genie Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer's stock worth $19,804,000 after buying an additional 39,749 shares during the period. J. Goldman & Co LP boosted its position in shares of Genie Energy by 14.8% in the fourth quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer's stock worth $10,543,000 after buying an additional 87,206 shares during the period. Geode Capital Management LLC boosted its position in shares of Genie Energy by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 430,370 shares of the oil and gas producer's stock worth $6,712,000 after buying an additional 9,283 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Genie Energy by 24.3% in the fourth quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer's stock worth $2,599,000 after buying an additional 32,630 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Genie Energy by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 146,364 shares of the oil and gas producer's stock worth $2,203,000 after buying an additional 19,671 shares during the period. 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.