Kahn Brothers Group Inc. Has $3.38 Million Position in Genie Energy Ltd. (NYSE:GNE)

Kahn Brothers Group Inc. trimmed its position in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 25.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,944 shares of the oil and gas producer's stock after selling 72,969 shares during the quarter. Genie Energy accounts for 0.7% of Kahn Brothers Group Inc.'s investment portfolio, making the stock its 15th largest holding. Kahn Brothers Group Inc. owned 0.80% of Genie Energy worth $3,382,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GNE. Legal & General Group Plc lifted its holdings in Genie Energy by 7.7% during the fourth quarter. Legal & General Group Plc now owns 19,166 shares of the oil and gas producer's stock worth $299,000 after acquiring an additional 1,375 shares during the period. American Century Companies Inc. boosted its holdings in shares of Genie Energy by 4.9% in the fourth 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 during the period. Wells Fargo & Company MN grew its holdings in Genie Energy by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer's stock valued at $120,000 after buying an additional 1,699 shares in the last quarter. R Squared Ltd bought a new stake in Genie Energy during the 4th quarter worth approximately $37,000. Finally, Barclays PLC increased its holdings in shares of Genie Energy by 12.8% in the fourth quarter. Barclays PLC now owns 23,247 shares of the oil and gas producer's stock worth $363,000 after purchasing an additional 2,630 shares during the period. 49.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Genie Energy from a "buy" rating to a "strong-buy" rating in a research note on Wednesday.

Genie Energy Trading Up 2.5 %

GNE stock opened at $16.55 on Friday. Genie Energy Ltd. has a one year low of $13.05 and a one year high of $17.93. The company has a market capitalization of $447.02 million, a PE ratio of 118.22 and a beta of -0.02. The company's 50 day moving average price is $14.98 and its two-hundred day moving average price is $15.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56.

Genie Energy (NYSE:GNE - Get Free Report) last posted its quarterly 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 21.48% and a net margin of 0.80%.

Genie Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a dividend of $0.075 per share. The ex-dividend date is Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.81%. Genie Energy's dividend payout ratio is currently 214.29%.

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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