Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.16 and traded as high as $15.23. Genie Energy shares last traded at $15.14, with a volume of 64,844 shares changing hands.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on GNE shares. Freedom Capital lowered shares of Genie Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Genie Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 18th. Finally, Wall Street Zen cut Genie Energy from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Genie Energy has a consensus rating of "Hold".
Read Our Latest Analysis on Genie Energy
Genie Energy Stock Up 0.9%
The company has a quick ratio of 2.75, a current ratio of 2.89 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $14.31 and a two-hundred day moving average of $14.16. The firm has a market capitalization of $398.48 million, a price-to-earnings ratio of 18.69 and a beta of 0.20.
Genie Energy (NYSE:GNE - Get Free Report) last issued its earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.25 by $0.18. The firm had revenue of $100.40 million during the quarter, compared to the consensus estimate of $104.57 million. Genie Energy had a return on equity of 12.80% and a net margin of 5.05%.
Genie Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Friday, August 14th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.0%. Genie Energy's payout ratio is 37.04%.
Hedge Funds Weigh In On Genie Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Genie Energy in the third quarter valued at approximately $35,000. State of Alaska Department of Revenue increased its holdings in shares of Genie Energy by 236.5% during the fourth 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Genie Energy during the first quarter worth $85,000. New York State Common Retirement Fund lifted its stake in shares of Genie Energy by 98.3% in the 2nd quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer's stock valued at $206,000 after acquiring an additional 3,800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Genie Energy in the 2nd quarter valued at $214,000. Institutional investors own 49.15% of the company's stock.
Genie Energy Company Profile
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Get Free Report)
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.
Further Reading
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