Genie Energy (NYSE:GNE) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Genie Energy shares rose 3.2%, trading as high as $14.77 and closing at $14.576, above the 200-day moving average of $14.12.
• Analyst sentiment remains favorable overall, with a consensus “Buy” rating, although recent actions ranged from an upgrade to “Strong Buy” to a downgrade to “Hold.”
• Genie Energy reported quarterly EPS of $0.43, beating estimates of $0.25, while revenue of $100.4 million fell short of expectations. The company also maintains a quarterly dividend of $0.075 per share, representing a 2.1% yield.

Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.12 and traded as high as $14.77. Genie Energy shares last traded at $14.5760, with a volume of 117,598 shares trading hands.

Analyst Ratings Changes

GNE has been the subject of several recent research reports. Weiss Ratings upgraded Genie Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 18th. Freedom Capital raised Genie Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th. Finally, Wall Street Zen cut shares of Genie Energy from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy".

Genie Energy Trading Up 3.2%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.44 and a current ratio of 2.54. The stock has a market capitalization of $384.82 million, a P/E ratio of 29.75 and a beta of 0.20. The firm's fifty day simple moving average is $14.18 and its 200 day simple moving average is $14.12.

Genie Energy (NYSE:GNE - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.18. The company had revenue of $100.40 million during the quarter, compared to the consensus estimate of $104.57 million. Genie Energy had a net margin of 3.22% and a return on equity of 9.72%.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 22nd were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, May 22nd. Genie Energy's payout ratio is currently 61.22%.

Institutional Investors Weigh In On Genie Energy

A number of large investors have recently modified their holdings of the business. Strs Ohio lifted its holdings in shares of Genie Energy by 2.6% during the fourth quarter. Strs Ohio now owns 39,800 shares of the oil and gas producer's stock worth $548,000 after purchasing an additional 1,000 shares during the period. First Trust Advisors LP increased its holdings in Genie Energy by 1.6% in the fourth quarter. First Trust Advisors LP now owns 66,180 shares of the oil and gas producer's stock valued at $912,000 after purchasing an additional 1,049 shares during the period. Bailard Inc. raised its position in Genie Energy by 8.5% during the 4th quarter. Bailard Inc. now owns 19,139 shares of the oil and gas producer's stock worth $264,000 after purchasing an additional 1,500 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Genie Energy by 236.5% during the 4th quarter. State of Alaska Department of Revenue now owns 2,830 shares of the oil and gas producer's stock worth $38,000 after buying an additional 1,989 shares during the period. Finally, Quarry LP acquired a new position in Genie Energy during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 49.15% of the company's stock.

Genie Energy Company Profile

Genie Energy Ltd. NYSE: GNE is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel's Shefela basin and Jordan's oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.

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