Genie Energy (NYSE:GNE) Upgraded at Wall Street Zen

Key Points

• Genie Energy’s stock has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, reflecting increased investor confidence.
• The company recently reported a quarterly earnings per share of $0.11 along with a return on equity of 6.40% and a net margin of 1.82%.
• Institutional investors hold approximately 49.15% of Genie Energy's stock, with significant stake increases from firms like J. Goldman & Co LP and Geode Capital Management LLC.

Wall Street Zen upgraded shares of Genie Energy (NYSE:GNE - Free Report) from a buy rating to a strong-buy rating in a research note released on Sunday.

Genie Energy Stock Performance

Shares of GNE stock traded down $0.2550 on Friday, hitting $15.3250. 189,281 shares of the stock were exchanged, compared to its average volume of 218,966. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $409.33 million, a PE ratio of 109.46 and a beta of 0.15. Genie Energy has a one year low of $13.05 and a one year high of $28.47. The firm's 50 day moving average is $21.59 and its two-hundred day moving average is $18.09.

Genie Energy (NYSE:GNE - Get Free Report) last issued its earnings results on Thursday, August 7th. The oil and gas producer reported $0.11 EPS for the quarter. Genie Energy had a return on equity of 6.40% and a net margin of 1.82%.

Genie Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Monday, August 11th were paid a $0.075 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.30 annualized dividend and a yield of 2.0%. Genie Energy's dividend payout ratio (DPR) is currently 214.29%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GNE. JPMorgan Chase & Co. boosted its stake in Genie Energy by 64.5% in the 4th quarter. JPMorgan Chase & Co. now owns 21,993 shares of the oil and gas producer's stock worth $343,000 after purchasing an additional 8,625 shares during the period. Geode Capital Management LLC boosted its stake in Genie Energy by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 430,370 shares of the oil and gas producer's stock worth $6,712,000 after purchasing an additional 9,283 shares during the period. Wells Fargo & Company MN boosted its stake in Genie Energy by 28.2% in 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 during the period. Legal & General Group Plc boosted its position in shares of Genie Energy by 7.7% during the 4th quarter. Legal & General Group Plc now owns 19,166 shares of the oil and gas producer's stock valued at $299,000 after acquiring an additional 1,375 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Genie Energy by 12.8% during the 4th quarter. Barclays PLC now owns 23,247 shares of the oil and gas producer's stock valued at $363,000 after acquiring an additional 2,630 shares during the last quarter. Institutional investors own 49.15% of the company's stock.

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.