Genie Energy (NYSE:GNE) Shares Down 4.5% - What's Next?

Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s share price traded down 4.5% during trading on Tuesday . The company traded as low as $24.25 and last traded at $23.86. 33,683 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 94,381 shares. The stock had previously closed at $24.99.

Wall Street Analysts Forecast Growth

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

Genie Energy Price Performance

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 stock has a market capitalization of $636.52 million, a P/E ratio of 169.36 and a beta of 0.19. The stock has a 50 day moving average of $21.47 and a 200-day moving average of $17.11.

Genie Energy (NYSE:GNE - Get Free Report) last issued 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 10.16% and a net margin of 3.41%. The firm had revenue of $136.81 million during the quarter.

Genie Energy Dividend Announcement

The company also recently announced 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. This represents a $0.30 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, May 19th. Genie Energy's dividend payout ratio (DPR) is presently 214.29%.

Insiders Place Their Bets

In other Genie Energy news, Director Allan Sass sold 2,920 shares of Genie Energy stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $17.72, for a total transaction of $51,742.40. Following the completion of the sale, the director directly owned 38,690 shares of the company's stock, valued at $685,586.80. The trade was a 7.02% decrease in their position. The sale 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

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Genie Energy by 24.3% in the 4th 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 acquiring an additional 32,630 shares in the last quarter. American Century Companies Inc. raised its position in shares of Genie Energy by 4.9% in the 4th quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer's stock worth $526,000 after acquiring an additional 1,566 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Genie Energy in the 4th quarter worth $296,000. Vanguard Group Inc. raised its position in shares of Genie Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer's stock worth $19,804,000 after acquiring an additional 39,749 shares in the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Genie Energy by 207.0% in the 4th quarter. WINTON GROUP Ltd now owns 37,564 shares of the oil and gas producer's stock worth $586,000 after acquiring an additional 25,329 shares in the last quarter. 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.

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