Russell Investments Group Ltd. Has $2.58 Million Position in Genie Energy Ltd. (NYSE:GNE)

Russell Investments Group Ltd. raised its stake in Genie Energy Ltd. (NYSE:GNE - Free Report) by 1,299.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,872 shares of the oil and gas producer's stock after acquiring an additional 85,305 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.34% of Genie Energy worth $2,584,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Significant Wealth Partners LLC acquired a new stake in Genie Energy during the fourth quarter worth approximately $4,812,000. Federated Hermes Inc. lifted its holdings in shares of Genie Energy by 63,668.2% in the fourth quarter. Federated Hermes Inc. now owns 126,261 shares of the oil and gas producer's stock valued at $3,552,000 after purchasing an additional 126,063 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Genie Energy in the 3rd quarter valued at $646,000. Strs Ohio lifted its stake in Genie Energy by 1,631.8% during the 3rd 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 in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Genie Energy during the 3rd quarter worth $444,000. 49.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Genie Energy Trading Up 0.8 %

Shares of GNE stock traded up $0.13 during trading on Tuesday, hitting $15.50. The company's stock had a trading volume of 95,294 shares, compared to its average volume of 162,056. The business has a fifty day moving average of $15.81 and a 200-day moving average of $20.39. The company has a market cap of $424.08 million, a PE ratio of 31.00 and a beta of 0.17. 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 earnings results on Monday, March 11th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter. The firm had revenue of $104.90 million during the quarter. Genie Energy had a return on equity of 24.06% and a net margin of 2.99%.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, May 17th. Genie Energy's dividend payout ratio (DPR) is 60.00%.

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.