Significant Wealth Partners LLC Makes New Investment in Genie Energy Ltd. (NYSE:GNE)

Significant Wealth Partners LLC acquired a new position in Genie Energy Ltd. (NYSE:GNE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 171,079 shares of the oil and gas producer's stock, valued at approximately $4,812,000. Genie Energy comprises 3.5% of Significant Wealth Partners LLC's investment portfolio, making the stock its biggest holding. Significant Wealth Partners LLC owned 0.62% of Genie Energy as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GNE. Bank of New York Mellon Corp increased its position in shares of Genie Energy by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 229,298 shares of the oil and gas producer's stock valued at $3,378,000 after acquiring an additional 8,099 shares during the last quarter. Bailard Inc. increased its position in shares of Genie Energy by 41.7% during the third quarter. Bailard Inc. now owns 32,300 shares of the oil and gas producer's stock valued at $476,000 after acquiring an additional 9,500 shares during the last quarter. Strs Ohio increased its position in shares of Genie Energy by 1,631.8% during the third quarter. Strs Ohio now owns 38,100 shares of the oil and gas producer's stock valued at $561,000 after acquiring an additional 35,900 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Genie Energy during the third quarter valued at approximately $646,000. Finally, Panagora Asset Management Inc. increased its position in shares of Genie Energy by 10.4% during the third quarter. Panagora Asset Management Inc. now owns 31,943 shares of the oil and gas producer's stock valued at $471,000 after acquiring an additional 3,010 shares during the last quarter. 49.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Genie Energy from a "buy" rating to a "hold" rating in a research report on Tuesday, February 13th.

Genie Energy Trading Up 1.3 %

Shares of GNE traded up $0.21 on Monday, reaching $16.11. 101,175 shares of the company's stock traded hands, compared to its average volume of 173,553. The stock has a market cap of $440.63 million, a PE ratio of 21.76 and a beta of 0.17. The stock's 50 day simple moving average is $16.63 and its two-hundred day simple moving average is $20.74. Genie Energy Ltd. has a 52-week low of $12.95 and a 52-week high of $30.90.

Genie Energy (NYSE:GNE - Get Free Report) last announced its quarterly earnings data on Monday, March 11th. The oil and gas producer reported $0.37 earnings per share for the quarter. Genie Energy had a return on equity of 25.39% and a net margin of 4.56%. The business had revenue of $104.90 million during the quarter.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.86%. The ex-dividend date was Friday, February 16th. Genie Energy's dividend payout ratio (DPR) is 40.54%.

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.